ABG Shipyard liquidator puts three Gujarat land parcels on block at ₹42 cr

The liquidator of ABG Shipyard Ltd has put three parcels of industrial land in Gujarat on the block at a combined reserve price of about ₹42.04 crore, according to an e-auction sale notice dated October 27, 2026.

The e-auction will be held on November 26, 2026, between 3 pm and 5 pm on the IBBI-designated portal ibbi.baanknet.com. The sale is being conducted under Regulations 32 and 33 of the IBBI (Liquidation Process) Regulations, 2016.

The three lots together cover 19,020 square metres:

The largest-value lot is the 6,171 sq m parcel at Gaviyar in Surat district, with a reserve price of ₹27.24 crore. The two Gaviyar parcels are priced at roughly ₹44,000-45,000 per sq m. The Bharuch parcel at Ambetha, though the largest by area, is priced at about ₹5,635 per sq m. (Per-sq-m figures are derived from the notice.)

Earnest money is set at 10% of the reserve price for each lot. The incremental bid amount is ₹10 lakh for all three. Reserve prices exclude taxes, stamp duty, registration fees and other levies.

Bidders must submit the bid form, a Section 29A eligibility undertaking, KYC documents and EMD by November 23, 2026, after inspecting the premises. Under the proviso to Section 35(1)(f) of the Insolvency and Bankruptcy Code, 2016, a bidder who fails the Section 29A eligibility test cannot bid. If a bidder is found ineligible at any stage, the EMD will be forfeited.

The assets are being sold on an “as is where is, as is what is, whatever there is and without recourse” basis. Liabilities relating to the assets after the auction date will be the sole responsibility of the successful bidder, the notice said.

A bid placed in the last five minutes will extend the closing time by five minutes, with unlimited extensions. The highest bidder will be declared successful after consultation with the Stakeholders’ Consultation Committee. The winner must pay the balance consideration within 30 days of the liquidator’s Letter of Intent.

The notice is signed by liquidator Sanjay Gupta of Primus Insolvency Resolution and Valuation Pvt. Ltd., Mumbai.

The sale is the latest in ABG Shipyard’s long-running liquidation. The company’s committee of creditors voted for liquidation in 2019, after lenders rejected a resolution plan from Liberty House. In 2022, Welspun Corp, through its subsidiary Nauyaan Shipyard, acquired ABG’s Dahej shipyard for ₹659 crore. Gupta has since run smaller auctions, including one for scrap vehicles in July 2025.

ABG Shipyard, once one of India’s largest private shipbuilders, is also at the centre of a CBI bank-fraud case filed in 2022.

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Notice to prospective buyers: Investors and businesses interested in this property, or in other assets on sale under the Insolvency and Bankruptcy Code, can connect with insolvencytracker.in. Call 9310758258 or write to insolvencytracker@gmail.com.