The case pertains to CP(IB)No. 104/BB/2019, involving a report related to IRP-CIRP. The IRP, A Haresh, informed the court that the corporate debtor possesses only Rs. 25 Lakhs in property/cash. However, the liabilities, encompassing Income Tax, Employees Provident Funds, ESI, Service Tax, Central Sales Tax, VAT, Labour Welfare fund, Professional Tax, IRP fees, and Income Tax legislations, amount to Rs. 2.03 Crores. This substantial difference indicates that the liabilities far outweigh the assets, leaving no funds available for liquidation. The court acknowledged this discrepancy and directed the IRP to file an application for the dissolution of the company.

The case pertains to CP(IB)No. 104/BB/2019, involving a report related to IRP-CIRP. The IRP, A Haresh, informed the court that the corporate debtor possesses only Rs. 25 Lakhs in property/cash. However, the liabilities, encompassing Income Tax, Employees Provident Funds, ESI, Service Tax, Central Sales Tax, VAT, Labour Welfare fund, Professional Tax, IRP fees, and Income Tax legislations, amount to Rs. 2.03 Crores. This substantial difference indicates that the liabilities far outweigh the assets, leaving no funds available for liquidation. The court acknowledged this discrepancy and directed the IRP to file an application for the dissolution of the company.