Company Overview

Marmagoa Steel Limited (MSL or the Corporate Debtor) was incorporated on July 17, 1987 and was involved in manufacturing of Billets and rolled products from Spring Steel, Carbon Steel and Mild Steel.

MSL was not functioning from the year 2012 due to financial constraints and IBC looked like the best possible option for bringing a solution to all the Stakeholders involved in 2017.

MSL entered into Corporate Insolvency Resolution Process (CIRP) in the year 2017 after admission of the application by the Adjudicating Authority. During the CIRP, a resolution plan was submitted by Chandor Engineering and Trading Company Pvt. Ltd. which failed due to various reasons.

MSL went into liquidation after failure of the CIRP.

The Liquidator, Mr. Pravin Navandar having registration number IBBI/IPA-001/IP-P00008/2016-17/10027 and Authorization of Assignment valid up to 18th January, 2023 was appointed by the Hon'ble NCLT, Mumbai Bench Order dated 10th February, 2021 for carrying out the Liquidation Process.