An application, IA No. 1507 of 2020, was filed in CP 2323 of 2018 under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking the liquidation of the Corporate Debtor Company. The Committee of Creditors (CoC) had convened on September 11, 2020, and passed a resolution with 100% voting to liquidate the Corporate Debtor Company. The CoC also decided to appoint Mrs. Anagha Anasingaraju as the liquidator and agreed to pay her a fee of Rs. 15 lakhs plus GST, along with reimbursement of expenses. The CoC approved this arrangement with 100% voting. The court then considered IA No. 1507 of 2020 to initiate the liquidation process.

An application, IA No. 1507 of 2020, was filed in CP 2323 of 2018 under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking the liquidation of the Corporate Debtor Company. The Committee of Creditors (CoC) had convened on September 11, 2020, and passed a resolution with 100% voting to liquidate the Corporate Debtor Company. The CoC also decided to appoint Mrs. Anagha Anasingaraju as the liquidator and agreed to pay her a fee of Rs. 15 lakhs plus GST, along with reimbursement of expenses. The CoC approved this arrangement with 100% voting. The court then considered IA No. 1507 of 2020 to initiate the liquidation process.