The case involves an application under Section 33(1)(2) of the IB Code seeking the liquidation and dissolution of the corporate debtor. The Adjudicating Authority heard submissions from the Counsel for the Resolution Professional (RP). The RP submitted a consent form to act as liquidator, filed under IA No. 2440/2021. The Adjudicating Authority approved the appointment of Mr. Sudhanshu Gupta as liquidator and directed the liquidator to take steps as per law and file a special progress report within 4 weeks. IA No. 2440/2021 involved submissions from the RP's counsel and noted the application's contents. The RP was directed to file an appropriate application to withdraw IA No. 4907/2021, filed by the previous RP, and the consent form of the liquidator filed with this
…M/s. Nivedan Fin-Invest Lease Ltd. filed a petition under Section 7 of the IBC. The petition sought the liquidation and dissolution of the corporate debtor. The Adjudicating Authority considered an application (IA No. 2090 of 2021) under Section 33(1)(2) of the IB Code. The Resolution Professional (RP) submitted a consent form to act as liquidator (IA No. 2440/2021). The Adjudicating Authority approved the appointment of Mr. Sudhanshu Gupta as the new liquidator, replacing the existing RP. The new liquidator was directed to take steps as per law and file a progress report within 4 weeks. The RP was also directed to file an application to withdraw IA No. 4907/2021, previously filed by the erstwhile RP. The consent form of the liquidator was taken on record.
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Order delivered on 04.06.2021 regarding the…
The case involves an application under Section 33(1)(2) of the IB Code seeking the liquidation and dissolution of the corporate debtor. The Adjudicating Authority heard submissions from the Counsel for the Resolution Professional (RP). The RP submitted a consent form to act as liquidator, filed under IA No. 2440/2021. The Adjudicating Authority approved the appointment of Mr. Sudhanshu Gupta as liquidator and directed the liquidator to take steps as per law and file a special progress report within 4 weeks. IA No. 2440/2021 involved submissions from the RP's counsel and noted the application's contents. The RP was directed to file an appropriate application to withdraw IA No. 4907/2021, filed by the previous RP, and the consent form of the liquidator filed with this
…M/s. Nivedan Fin-Invest Lease Ltd. filed a petition under Section 7 of the IBC. The petition sought the liquidation and dissolution of the corporate debtor. The Adjudicating Authority considered an application (IA No. 2090 of 2021) under Section 33(1)(2) of the IB Code. The Resolution Professional (RP) submitted a consent form to act as liquidator (IA No. 2440/2021). The Adjudicating Authority approved the appointment of Mr. Sudhanshu Gupta as the new liquidator, replacing the existing RP. The new liquidator was directed to take steps as per law and file a progress report within 4 weeks. The RP was also directed to file an application to withdraw IA No. 4907/2021, previously filed by the erstwhile RP. The consent form of the liquidator was taken on record.
Order delivered on 04.06.2021 regarding the…