Statomat Special Machines liquidator cuts reserve price, puts Navi Mumbai unit back on the block for Rs 25.28 cr

The liquidator of Statomat Special Machines (India) Private Limited has put the company’s Navi Mumbai factory and machinery up for e-auction at a reserve price of ₹25.28 crore, ₹50 lakh lower than the floor set for the same assets in June.

Liquidator Shailesh Desai will conduct the e-auction on Friday, 13 November 2026, between 11 am and 1 pm on the Baanknet portal (ibbi.baanknet.com).

The assets are being offered as a single lot: land measuring 2,573 sq m at Plot No. R-719, Road No. 19, TTC Industrial Area, MIDC, Rabale, Navi Mumbai — the company’s registered office — along with a ground-plus-two-storey factory building with a total built-up area of 735.62 sq m, a workshop structure of 695 sq m, and machinery and other movable assets.

The reserve price has been fixed at ₹25,27,88,000, with an earnest money deposit (EMD) of ₹2,52,78,800 and a minimum bid increment of ₹5 lakh. Bidders must deposit the EMD through the auction portal by 6 pm on 11 November.

The sale will be conducted on an “as is where is”, “as is what is”, “whatever there is” and “no recourse” basis. Prospective bidders must file a declaration of eligibility under Section 29A of the Insolvency and Bankruptcy Code, 2016, and the notice warns that EMD deposited before verification will be forfeited if a bidder is found ineligible. The liquidator has reserved the right to accept or cancel any bid, or to modify the terms, without assigning reasons. The notice refers bidders to the process document for a breakup of the reserve price for stamp duty and tax purposes.

Second attempt at a lower floor

The same land, buildings and machinery were offered earlier this year at a higher price. An auction notice Desai filed with the Insolvency and Bankruptcy Board of India (IBBI), dated 8 June 2026, put the assets on sale as “Lot 3 — aggregate of Lot 1 and Lot 2” at a reserve price of ₹25,77,88,000, with an EMD of ₹2,57,78,800. That auction was scheduled for 22 June, with an EMD deadline of 18 June. The June notice had split the offering into Lot 1 (land, factory building and workshop) and Lot 2 (machinery and other movable assets), with the combined Lot 3 as an alternative.

The current notice offers only the combined lot, at a reserve price about 1.9% below the June figure. It does not state whether the June auction drew any bids.

From CIRP to liquidation in under four months

The Mumbai bench of the National Company Law Tribunal (NCLT) admitted Statomat Special Machines into the corporate insolvency resolution process (CIRP) on 28 November 2025 in C.P. (IB)/488/MB/2025, on an application filed by Schaeffler Elmotec Statomat GmbH, according to IBBI records. The company moved into liquidation on 20 March 2026, and Desai issued the public announcement of the liquidation process on 23 March.

Schaeffler Elmotec Statomat GmbH, classified as a related party of the corporate debtor, filed an unsecured financial claim of ₹12.40 crore (₹12,39,86,527), which was admitted in full, according to the list of stakeholders as of 3 June 2026. The claim accounts for 71.23% of total admitted claims, implying total admitted claims of roughly ₹17.41 crore.

Incorporated in 1992 and registered in Maharashtra, Statomat Special Machines last filed its balance sheet for the year ended 31 March 2023, according to corporate registry data.

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

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