The appeal was filed against an order dated 08.07.2025 passed by the adjudicating authority (National Company Law Tribunal (NCLT), Mumbai Bench, Court – I), in I.A. No. 717/2025. The application was filed by the appellant, the liquidator seeking a direction praying for certain reliefs regarding liquidation costs and fees.
Rakesh Kumar Tulsyan, the liquidator of Vipul S Plastocrafts Pvt. Ltd., filed an application seeking directions for Omkara Asset Reconstruction Pvt. Ltd. to pay liquidation costs.
The liquidation commenced on 23.11.2023.
Assets were auctioned on 11.06.2024 and 24.09.2024.
The adjudicating authority partly allowed the application.
The appellant claimed entitlement to fees in the first 6-month slab, arguing that the first auction was held within 6 months of possession being given to the financial creditor on 08.04.2024.
Sign in to view the parties.
Order passed by the…
Application praying for condonation of 12…
Sign in to view related legal provisions.
The appeal was filed against an order dated 08.07.2025 passed by the adjudicating authority (National Company Law Tribunal (NCLT), Mumbai Bench, Court – I), in I.A. No. 717/2025. The application was filed by the appellant, the liquidator seeking a direction praying for certain reliefs regarding liquidation costs and fees.
Rakesh Kumar Tulsyan, the liquidator of Vipul S Plastocrafts Pvt. Ltd., filed an application seeking directions for Omkara Asset Reconstruction Pvt. Ltd. to pay liquidation costs.
The liquidation commenced on 23.11.2023.
Assets were auctioned on 11.06.2024 and 24.09.2024.
The adjudicating authority partly allowed the application.
The appellant claimed entitlement to fees in the first 6-month slab, arguing that the first auction was held within 6 months of possession being given to the financial creditor on 08.04.2024.
Order passed by the…
Application praying for condonation of 12…
Sign in to view related legal provisions.