Blizzard Ceramica assets on the block at Rs 45-crore reserve; e-auction on August 18

The liquidator of Blizzard Ceramica LLP has invited bids for the ceramic maker’s entire asset block at a reserve price of ₹45 crore, with the e-auction scheduled for August 18 on the BaankNet platform.

The sale covers land and building, plant and machinery at Survey Nos 83/1, 83/2, 83/3 and 83/4, Lunsar Road, opposite Bhojapara on the 8-A National Highway at Jetparda, Wankaner in Gujarat, together with securities and financial assets. The assets are being offered collectively as a single block rather than in parcels. Earnest money deposit has been fixed at ₹4.5 crore, or 10 per cent of the reserve price, with a bid increment of ₹25 lakh.

Bidding will run from 11.15 a.m. to 1.15 p.m. on August 18, with unlimited five-minute extensions. The last date for submission of documents is August 14 at 4 p.m. and for EMD the same day at 5 p.m. The sale is being conducted by Rajender Pal Chandel, liquidator, through the IBBI’s e-auction platform hosted on BaankNet.

The reserve price sits well below the charges registered against the entity. MCA filings show open charges of ₹65.59 crore against Blizzard Ceramica, with no settled loans, and a total obligation of contribution of ₹15.50 crore. On that basis the block is being offered at roughly a third below the registered secured exposure.

The LLP was admitted into corporate insolvency resolution on April 28, 2025, on a Section 9 petition filed by Vidres India Ceramics Pvt Ltd before the Ahmedabad bench of the National Company Law Tribunal in C.P.(IB)/283(AHM)2024. Rahul Shah was appointed interim resolution professional and later resolution professional, with Nimai Gautam Shah subsequently taking over as resolution professional. A liquidation application, IA(Liq)/2(AHM)2026, was moved under Sections 33 and 60(5) of the Code read with Rule 11 of the NCLT Rules before a bench of Shammi Khan, member (judicial), and Sanjeev Sharma, member (technical). The notice records the liquidation order as having been passed by Ahmedabad Bench-I on March 17, 2026. The public announcement of liquidation was issued on March 21, 2026.

Blizzard Ceramica manufactures ceramics, sanitaryware and tiles and is based in Wankaner, in the Morbi ceramic cluster. It employed seven people and its designated partners include Ishvarbhai Bhagwanbhai Motka, Divyesh Ambarambhai Ghodasara and Ravikant Tarkeshwar Shah. Its last statement of accounts and solvency was filed for the year ended March 31, 2025.

The sale is on an “as is where is”, “as is what is”, “whatever there is” and “no recourse” basis without warranties. Bidders must register on BaankNet and file an undertaking that they do not suffer any ineligibility under Section 29A of the Insolvency and Bankruptcy Code. The notice warns that if a bidder is found ineligible at any stage the earnest money will be forfeited, citing IBBI circular IBBI/LIQ/84/2025 of March 28, 2025.

Under Paragraph 12 of Schedule I to the IBBI (Liquidation Process) Regulations, 2019, the highest bidder must pay the balance consideration within 90 days of demand, with payments made after 30 days attracting interest at 12 per cent, and the sale standing cancelled if payment is not received within 90 days. The liquidator must complete due diligence on the highest bidder within three days of declaration and place the auction results before the consultation committee constituted under Regulation 31A before declaring a successful bidder. Should the highest bidder be found ineligible, the next highest may be declared successful following the procedure in clauses 12A to 12E.

The successful bidder will bear stamp duty, transfer charges, GST and all statutory and non-statutory dues on the assets. The liquidator has reserved the right to cancel or modify the process, or to disqualify any bidder, without assigning a reason.

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