The appellant initiated CIRP against M/s. STROS Esquire Elevators & Hoists Pvt. Ltd.

The appellant holds 50% shares in the Corporate Debtor (CD).

CIRP was initiated due to non-repayment of loans.

CIRP was admitted on 05.08.2022, and an IRP was appointed.

The IRP found only one financial creditor, the appellant, who is also a shareholder and related party.

The Adjudicating Authority chose not to direct liquidation but directed the appellant to withdraw the CIRP.

The RP stated that the CD is not a going concern and has no commercial activity.

The Adjudicating Authority order dated 06.09.2024 in I.A.783/2022 in C.P.(IB) 308 of 2020 on the file of NCLT, Ahmedabad is set aside, and this tribunal directs liquidation of the corporate debtor.

The appellant initiated CIRP against M/s. STROS Esquire Elevators & Hoists Pvt. Ltd.

The appellant holds 50% shares in the Corporate Debtor (CD).

CIRP was initiated due to non-repayment of loans.

CIRP was admitted on 05.08.2022, and an IRP was appointed.

The IRP found only one financial creditor, the appellant, who is also a shareholder and related party.

The Adjudicating Authority chose not to direct liquidation but directed the appellant to withdraw the CIRP.

The RP stated that the CD is not a going concern and has no commercial activity.

The Adjudicating Authority order dated 06.09.2024 in I.A.783/2022 in C.P.(IB) 308 of 2020 on the file of NCLT, Ahmedabad is set aside, and this tribunal directs liquidation of the corporate debtor.