The case pertains to an application filed by the liquidator of Norton Aluminium (India) Private Limited, seeking permission to conduct a private sale of the corporate debtor's assets. The Corporate Insolvency Resolution Process (CIRP) was initiated on 2018-06-22, and the applicant was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional. As no resolution plan was approved, the applicant filed an application for liquidation, which was allowed on 2019-05-29, and the applicant was appointed as the liquidator.
The Corporate Insolvency Resolution Process (CIRP) of Norton Aluminium (India) Private Limited was initiated on 2018-06-22. The applicant was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional. Due to the absence of an approved resolution plan, the applicant filed an application for liquidation, which was approved on 2019-05-29, and the applicant was appointed as the liquidator. The liquidator attempted to sell the corporate debtor's assets through e-auctions, but these attempts were unsuccessful. The State Bank of India (SBI), the sole secured financial creditor, also attempted to sell the land and building through auctions under the SARFAESI Act, but these attempts were also unsuccessful. The liquidator received an offer
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Corporate Ins…
Liquidation order…
The case pertains to an application filed by the liquidator of Norton Aluminium (India) Private Limited, seeking permission to conduct a private sale of the corporate debtor's assets. The Corporate Insolvency Resolution Process (CIRP) was initiated on 2018-06-22, and the applicant was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional. As no resolution plan was approved, the applicant filed an application for liquidation, which was allowed on 2019-05-29, and the applicant was appointed as the liquidator.
The Corporate Insolvency Resolution Process (CIRP) of Norton Aluminium (India) Private Limited was initiated on 2018-06-22. The applicant was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional. Due to the absence of an approved resolution plan, the applicant filed an application for liquidation, which was approved on 2019-05-29, and the applicant was appointed as the liquidator. The liquidator attempted to sell the corporate debtor's assets through e-auctions, but these attempts were unsuccessful. The State Bank of India (SBI), the sole secured financial creditor, also attempted to sell the land and building through auctions under the SARFAESI Act, but these attempts were also unsuccessful. The liquidator received an offer
…Corporate Ins…
Liquidation order…