Birbhum Chemicals liquidator puts land, vehicles and plant back on the block at ₹18.82 crore

The liquidator of Birbhum Chemicals and Fertilisers Ltd has invited bids for the company’s land and building, 21 vehicles and its plant and machinery, at a combined reserve price of about ₹18.82 crore, according to an e-auction notice published on October 6.

The land and building lot carries a reserve price of ₹18.48 crore, the same price at which it was offered in a September auction, according to auction filings with the Insolvency and Bankruptcy Board of India (IBBI). Those filings describe the land as 28.55 acres with three godowns at Ichhapur, near Illambazar in West Bengal’s Birbhum district.

The vehicles are priced at ₹26.13 lakh and the plant and machinery at ₹8.07 lakh. The plant and machinery had been offered in July at a reserve of ₹8.50 lakh, the IBBI filings show, which puts the latest price about 5 per cent lower. The notice does not say whether the earlier auctions drew any bids.

Liquidator Sanjay Kumar Poddar will run the auction on the BAANKNET platform on November 6, from 11 am to 5 pm, with five-minute extensions for bids placed in the closing minutes. Bidders can submit eligibility documents from October 6 to November 3, inspect the assets until October 31 and deposit the earnest money by November 3. They must also file an undertaking that they are not barred under Section 29A of the Insolvency and Bankruptcy Code. The assets are being sold lot-wise on an “as is where is” basis, and bidders may bid for a combination of lots.

Source: e-auction sale notice, Business Standard (Mumbai), October 6, 2026

Small fraction of dues

Even if all three lots sell at their reserve prices, the proceeds would be a small fraction of what lenders are owed. During the corporate insolvency resolution process, five secured financial creditors had claims of about ₹126.3 crore admitted, or 96.55 per cent of all admitted claims, according to the list of creditors filed with IBBI in June 2024. A sale at reserve would cover roughly 15 per cent of that, before liquidation costs and the distribution order under Section 53 of the Code. The liquidator filed a fresh list of claims in April this year.

The National Company Law Tribunal’s Kolkata bench admitted Canara Bank’s Section 7 petition against the company on January 8, 2024, and Avishek Gupta was appointed resolution professional. More than two years later, on February 27, 2026, the tribunal ordered liquidation and appointed Poddar as liquidator.

On the day it admitted Canara Bank’s petition, the tribunal dismissed a separate Section 9 petition filed by an operational creditor, Jashim Mondal. The cause title of that petition described Birbhum Chemicals as a corporate guarantor.

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