The case involves an application filed by the Liquidator seeking an order for the dissolution of the Corporate Debtor, Neutrino Power Systems Private Limited, under Section 54(1) of the Insolvency and Bankruptcy Code (IBC), 2016, read with Regulation 45(3) of the IBBI (Liquidation Process) Regulations, 2016. The liquidation process was initiated following an order by the Tribunal on 14.12.2018, and Mr. Chandra Sekhar Arasada was appointed as the Liquidator. Public announcements were made to invite claims from stakeholders, and the Liquidator followed the timelines specified in the Liquidation Regulations.
The Bank of Bahrain & Kuwait BSC initiated Corporate Insolvency Resolution Process (CIRP) against Neutrino Power Systems Private Limited. The Tribunal ordered the liquidation of the company on 14.12.2018 and appointed Mr. Chandra Sekhar Arasada as the Liquidator. The Liquidator made public announcements to invite claims from stakeholders. The Bank of Bahrain & Kuwait BSC, being the sole secured creditor, disposed of the plant and machinery under SARFAESI and credited the proceeds to the Corporate Debtor's Liquidation Account. The Liquidator filed progress reports, paid CIRP costs and liquidation expenses, and distributed the balance amount. The Liquidator then filed an application seeking dissolution of the Corporate Debtor, stating that there were no further
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Tribunal passed an order liquidating the…
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The case involves an application filed by the Liquidator seeking an order for the dissolution of the Corporate Debtor, Neutrino Power Systems Private Limited, under Section 54(1) of the Insolvency and Bankruptcy Code (IBC), 2016, read with Regulation 45(3) of the IBBI (Liquidation Process) Regulations, 2016. The liquidation process was initiated following an order by the Tribunal on 14.12.2018, and Mr. Chandra Sekhar Arasada was appointed as the Liquidator. Public announcements were made to invite claims from stakeholders, and the Liquidator followed the timelines specified in the Liquidation Regulations.
The Bank of Bahrain & Kuwait BSC initiated Corporate Insolvency Resolution Process (CIRP) against Neutrino Power Systems Private Limited. The Tribunal ordered the liquidation of the company on 14.12.2018 and appointed Mr. Chandra Sekhar Arasada as the Liquidator. The Liquidator made public announcements to invite claims from stakeholders. The Bank of Bahrain & Kuwait BSC, being the sole secured creditor, disposed of the plant and machinery under SARFAESI and credited the proceeds to the Corporate Debtor's Liquidation Account. The Liquidator filed progress reports, paid CIRP costs and liquidation expenses, and distributed the balance amount. The Liquidator then filed an application seeking dissolution of the Corporate Debtor, stating that there were no further
…Tribunal passed an order liquidating the…
Liquidator carried out public announcement in…