The appeals were filed against an order of the National Company Law Tribunal (NCLT), New Delhi Bench, which rejected a resolution plan for Worlds Window Exim Private Limited (Corporate Debtor). The NCLT rejected the plan primarily because the total resolution amount was lower than the liquidation value and the resolution applicant was deemed unaware of the cause of default, leading to an order for liquidation and an investigation into the Corporate Debtor's affairs. The Corporate Debtor was an asset holding company with no operations, and its debts were largely assigned to Prudent ARC Limited during the Corporate Insolvency Resolution Process (CIRP).
Worlds Window Exim Private Limited (Corporate Debtor) is an asset holding company, incorporated under the Companies Act, 1956, and was not operative.
Central Bank of India filed a Company Petition (CP(IB)-108/(PB)/2025) under Section 7 of the Code for initiation of CIRP against the Corporate Debtor.
The Adjudicating Authority (NCLT, New Delhi Bench-II) admitted the Company Petition on May 16, 2025, marking the Insolvency Commencement Date.
The Interim Resolution Professional (IRP) took over management and invited creditors to submit proof of claims by June 3, 2025.
The Corporate Debtor's 99.9999% equity shares were held by Worlds Window Infrastructure and Logistics Pvt. Ltd. and 0.0001% by its nominee.
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The Hon'ble Adjudicating Authority admitted the…
The Interim Resolution Professional (IRP) made…
The appeals were filed against an order of the National Company Law Tribunal (NCLT), New Delhi Bench, which rejected a resolution plan for Worlds Window Exim Private Limited (Corporate Debtor). The NCLT rejected the plan primarily because the total resolution amount was lower than the liquidation value and the resolution applicant was deemed unaware of the cause of default, leading to an order for liquidation and an investigation into the Corporate Debtor's affairs. The Corporate Debtor was an asset holding company with no operations, and its debts were largely assigned to Prudent ARC Limited during the Corporate Insolvency Resolution Process (CIRP).
Worlds Window Exim Private Limited (Corporate Debtor) is an asset holding company, incorporated under the Companies Act, 1956, and was not operative.
Central Bank of India filed a Company Petition (CP(IB)-108/(PB)/2025) under Section 7 of the Code for initiation of CIRP against the Corporate Debtor.
The Adjudicating Authority (NCLT, New Delhi Bench-II) admitted the Company Petition on May 16, 2025, marking the Insolvency Commencement Date.
The Interim Resolution Professional (IRP) took over management and invited creditors to submit proof of claims by June 3, 2025.
The Corporate Debtor's 99.9999% equity shares were held by Worlds Window Infrastructure and Logistics Pvt. Ltd. and 0.0001% by its nominee.
…The Hon'ble Adjudicating Authority admitted the…
The Interim Resolution Professional (IRP) made…