The case involves Deepak Pneumatics Pvt. Ltd. The facts are peculiar, as there is neither any business nor any asset of the applicant Corporate Debtor. The Committee of Creditors (COC) comprises workmen who have not received their dues and are unwilling to bear the expenses of any process.
The case pertains to Deepak Pneumatics Pvt. Ltd. The Corporate Debtor lacks business or assets. The COC consists of unpaid workmen unwilling to bear process expenses. The IRP's fees were tendered in court. The IRP is discharged because the COC is absent, preventing confirmation of appointment or reimbursement of fees. Without a resolution plan or liquidation decision, further proceedings are impossible, causing resolution and liquidation to fail due to COC's inaction. The matter is scheduled for further consideration on May 27, 2019.
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The case involves Deepak Pneumatics Pvt. Ltd. The facts are peculiar, as there is neither any business nor any asset of the applicant Corporate Debtor. The Committee of Creditors (COC) comprises workmen who have not received their dues and are unwilling to bear the expenses of any process.
The case pertains to Deepak Pneumatics Pvt. Ltd. The Corporate Debtor lacks business or assets. The COC consists of unpaid workmen unwilling to bear process expenses. The IRP's fees were tendered in court. The IRP is discharged because the COC is absent, preventing confirmation of appointment or reimbursement of fees. Without a resolution plan or liquidation decision, further proceedings are impossible, causing resolution and liquidation to fail due to COC's inaction. The matter is scheduled for further consideration on May 27, 2019.
Hearing before the New…
Case put up for…
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