The application was filed under sections 33(2) and 60(5) of the IBC, 2016, seeking liquidation of the Corporate Debtor, M/s. Dream Systems Private Limited. The Financial Creditor stated that no resolution was passed during the CIRP and the 180-day period, and no extension was sought by the RP. One year had passed since the admission order on 02.04.2018. The RP clarified that no asset is lying in the company, so there was no need to appoint registered valuers to ascertain the liquidation value.
M/s. RKTC Logistics Private Limited, the Financial Creditor, filed an application seeking the liquidation of M/s. Dream Systems Private Limited, the Corporate Debtor. The Corporate Debtor was undergoing Corporate Insolvency Resolution Process (CIRP), but no resolution plan was approved within the stipulated time. The Resolution Professional (RP), Mr. C. Ramasubramaniam, stated that the Corporate Debtor had no assets. The RP also expressed unwillingness to continue as the RP or liquidator. The applicant obtained the consent of Mr. K. Suresh to act as the liquidator. The Adjudicating Authority, after considering the facts, found the case fit for liquidation and ordered the liquidation of the Corporate Debtor.
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Filing of CP/715/IB/CB/2…
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The application was filed under sections 33(2) and 60(5) of the IBC, 2016, seeking liquidation of the Corporate Debtor, M/s. Dream Systems Private Limited. The Financial Creditor stated that no resolution was passed during the CIRP and the 180-day period, and no extension was sought by the RP. One year had passed since the admission order on 02.04.2018. The RP clarified that no asset is lying in the company, so there was no need to appoint registered valuers to ascertain the liquidation value.
M/s. RKTC Logistics Private Limited, the Financial Creditor, filed an application seeking the liquidation of M/s. Dream Systems Private Limited, the Corporate Debtor. The Corporate Debtor was undergoing Corporate Insolvency Resolution Process (CIRP), but no resolution plan was approved within the stipulated time. The Resolution Professional (RP), Mr. C. Ramasubramaniam, stated that the Corporate Debtor had no assets. The RP also expressed unwillingness to continue as the RP or liquidator. The applicant obtained the consent of Mr. K. Suresh to act as the liquidator. The Adjudicating Authority, after considering the facts, found the case fit for liquidation and ordered the liquidation of the Corporate Debtor.
Filing of CP/715/IB/CB/2…
Admission…