Nicco Corporation Limited is undergoing liquidation. Mr. Vinod Kumar Kothari is the Liquidator of the Corporate Debtor. The Liquidator filed C.A.(IB) No.487/KB/2017 in connection with C.P. No.03/2017, seeking clarifications and permissions related to the liquidation process under Section 35 of the Insolvency and Bankruptcy Code, 2016, and Regulation 41(3) of the IBBI (Liquidation Process) Regulations, 2016. The specific matters included the status of employees post-liquidation, retention of officers, discharge of liabilities, and operation of bank accounts. The liquidator also sought authorization to defend legal proceedings on behalf of the Corporate Debtor and to dispense with formal application requirements for future directions.

Nicco Corporation Limited is undergoing liquidation. Mr. Vinod Kumar Kothari is the Liquidator of the Corporate Debtor. The Liquidator filed C.A.(IB) No.487/KB/2017 in connection with C.P. No.03/2017, seeking clarifications and permissions related to the liquidation process under Section 35 of the Insolvency and Bankruptcy Code, 2016, and Regulation 41(3) of the IBBI (Liquidation Process) Regulations, 2016. The specific matters included the status of employees post-liquidation, retention of officers, discharge of liabilities, and operation of bank accounts. The liquidator also sought authorization to defend legal proceedings on behalf of the Corporate Debtor and to dispense with formal application requirements for future directions.