Bank of India, serving as a creditor to Liberty Oil Mills, is readying itself for a Swiss auction associated with a binding bid that guarantees a 66% recovery of the book value. Phoenix ARC has put forth a bid of ₹82 crore for the ₹126 crore loan, which has consequently prompted the lender to schedule a Swiss auction on March 22 in order to explore additional bids. The auction, with a reserve price of ₹82 crore and a minimum markup requirement of 5%, looks to initiate counter bids starting from ₹86 crore. Liberty Oil Mills, a cooking oil company that specializes in refining and trading edible oils, manufacturing clarified butter, vegetable oils, fats, and bakery products, has faced cash flow mismatches after the buyer’s credit withdrawal and high custom duty payments, as outlined in a court document.