CA 343/2019 was filed by the Interim Resolution Professional (IRP) under Section 33(1) of the Insolvency and Bankruptcy Code (IBC) seeking directions for liquidating the assets of the Corporate Debtor. The RP's counsel stated that the ex-directors were served notice of the application. The Committee of Creditors (COC) resolved to seek directions from the NCLT to initiate liquidation proceedings because no resolution plan was received within the 270-day resolution period, which expired on 2019-02-12. The RP's affidavit, approved by the COC as the liquidator, was annexed to the application. The court appointed Mr. Nitesh Sharma, the RP, as the liquidator.

CA 343/2019 was filed by the Interim Resolution Professional (IRP) under Section 33(1) of the Insolvency and Bankruptcy Code (IBC) seeking directions for liquidating the assets of the Corporate Debtor. The RP's counsel stated that the ex-directors were served notice of the application. The Committee of Creditors (COC) resolved to seek directions from the NCLT to initiate liquidation proceedings because no resolution plan was received within the 270-day resolution period, which expired on 2019-02-12. The RP's affidavit, approved by the COC as the liquidator, was annexed to the application. The court appointed Mr. Nitesh Sharma, the RP, as the liquidator.