Delhi: Daewoo Motors India is up for sale. The Debt
Recovery Tribunal (DRT) in Mumbai has invited bids from
prospective buyers for the company.
follows the companys inability to repay its debts
to financial institutions. The DRT has fixed 18 December
2002 as the last date for receipt of offers for sale.
the assets of the company were brought under the control
of the financial institutions. However, attempts to sell
the assets did not meet with success. The companys
total liabilities are said to be over Rs 5,000 crore.