E-Auction of
Neo Corp International Limited
on 20.9.2022
Last date of EMD Submission is 16.9.2022
Press Release by AAA Insolvency Professionals LLP
We are sending you Invitation for E-Auction of Neo Corp International Limited (in Liquidation) under the provisions of the Insolvency and Bankruptcy Code, 2016 (“Code”) by an Order of the Hon‟ble National Company Law Tribunal, Mumbai Bench (“NCLT”) dated 05th August, 2021.
Company Profile of Neo Corp International Limited (NCIL)
NCIL, since its inception in 1986, is dedicated to making tailor designed products under Packtech. NCIL reached the status of a fore-runner internationally as a reliable supplier of Packtech products. With its current growth initiative, NCIL has entered into other technical textile segments like Geotech and Agrotech.
More then two decades of reliable catering to the requirement of FIBC’s, container liner, leno bag, geo textile, ground cover, shade nets, hale nets, wind breakers and constructive cover from fully integrated, clean room 30000 square meter manufacturing facility.
NCIL is a Public Limited Company with an equity base of 38.02 million shares. It is listed on the National & Bombay Stock Exchanges (NSE & BSE) and Bourse de Luxembourg (Luxembourg Stock Exchange).
NCIL also enjoys a Star Export House status recognized by the Government of India in view of the Company’s excellent Export performance.
As the barriers of trade have come down, strong markets like India have become a cynosure of the industries worldwide. To encash these opportunities, NCIL has endeavoured to reinvent itself with planned capital investment and management culture. NCIL is renewing its customer relationship by providing a value added solution. Efforts are made to embrace information technology in the quest of efficient and faster processes throughout the demand and supply chain. We are also balancing the growth aspiration with social concerns for sustainable growth and environment friendliness.
Techtextil (100% EOU)
This Export Oriented Unit of NCIL produces value-added Packtech products. The division houses state-of- the- art machines and infrastructure and the building is AIB (American Institute of Baking) & BRC British Retail Consortium compliant, where the stage I BRC Audit is already complete. These certifications would offer NCIL the opportunity to enter larger and more lucrative markets of higher end FIBCs.
Polymer Division
NCIL represents Indian Oil Corporation Ltd (IOCL) – a fortune 500 Company, as Del Credere Associate cum stockist for the state of Madhya Pradesh.
IOCL has a world class Naptha Cracker unit with technology from ABB Lummus located at Panipat, Haryana with design capacity 857 KTA of Ethylene and 650 KTA of Propylene.
There are two production lines of 300 KTA each for Polypropylene (PP) with Spheripol technology license from Basell, Italy. The product portfolio includes the entire range of Homopolymers, Block Copolymers and Random Copolymers.
There is a dedicated HDPE plant of 300 KTA using the Basell (Hostalen) slurry process. The product portfolio includes Unimodal as well as Bimodal HDPE grades for various application segments such as Film, Blow Moulding and Pressure Pipes.
IOCL also has a LLDPE/HDPE Swing Plant of 350 KTA capacity based on Sclairtech Solution polymerization technology of Nova Chemicals, Canada. The product portfolio includes general purpose LLDPE and HDPE grades.
NCIL’s Polymer Division operates from separate premises and has a dedicated team for marketing, after sale service and technical support. The warehouse is situated at a vantage location in Pithampur, within a 50 km radius to most of our customers.
Block A – Sale of the Leasehold Land, Building &Allied Structures, and Plant & Machinery lying at Plot No. 62, 63 and 64A, Industrial Area, Sector-1, Pithampur, Dhar, Madhya Pradesh.
Reserve Price : 28,37,65,275
Block B –Sale of Plant & Machinery lying at Plot No. 62, 63 and 64A, Industrial Area, Sector-1, Pithampur, Dhar, Madhya Pradesh.
