Do we need to adjust the project when winning the auction of collateral assets?

Sat, 30 Sep 2023 11:11:00  |  Print  |  Email   Share:

Mr. Thanh Dat's business (Hanoi) won the auction of collateral assets from the bank, which includes equipment, machinery, accompanying accessories, and other assets attached to the land of an industrial plant investment project.

When carrying out the procedure to change the project information for the construction investment, the Department of Planning and Investment proposed to follow the regulations in Article 49 of Decree No. 31/2021/NĐ-CP dated March 26, 2021. However, the bank selling the auctioned assets does not accept signing according to Form A.I.11.c (03/2021/TT-BKHĐT) with the reason that the asset sale contract does not involve the transfer of the project.

Mr. Dat asked how his business should proceed to change the project information.

The Ministry of Planning and Investment responded to this issue as follows:

Article 49 of Decree No. 31/2021/NĐ-CP dated March 26, 2021, issued by the Government, provides detailed regulations and guidance on the implementation of certain provisions of the Investment Law regarding the adjustment of investment projects in cases where investors receive the transfer of investment projects as collateral.

However, the business that won the auction of collateral assets from the bank, which includes equipment, machinery, accompanying accessories, and other assets attached to the land of an investment project, does not involve a transfer. Therefore, there is no basis to carry out the project adjustment procedures as stipulated in Article 49 of Decree No. 31/2021/NĐ-CP.

According to Chinhphu.vn (Government News).

 

By: Translator: LeAnh-Bizic

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