The case involves an application for liquidation of the Corporate Debtor. The Resolution Applicant withdrew their proposal, and there was no other resolution applicant before the Committee of Creditors (COC). The COC decided that the Resolution Professional should initiate the liquidation application. Another application (C.A. 470/2018) was filed, but the Resolution Professional rejected the claim as it was filed belatedly.
The Resolution Applicant withdrew their proposal. There was no other resolution applicant before the COC. The COC decided to initiate liquidation proceedings. C.A. 356/2018 was filed under Section 33 of the Code. The Resolution Professional was proposed as the Insolvency Liquidator and consented to the appointment. C.A. 470/2018 was filed by an applicant whose claim was rejected by the Resolution Professional for being filed belatedly. The court noted that claims can be entertained until the liquidated assets are distributed.
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The case involves an application for liquidation of the Corporate Debtor. The Resolution Applicant withdrew their proposal, and there was no other resolution applicant before the Committee of Creditors (COC). The COC decided that the Resolution Professional should initiate the liquidation application. Another application (C.A. 470/2018) was filed, but the Resolution Professional rejected the claim as it was filed belatedly.
The Resolution Applicant withdrew their proposal. There was no other resolution applicant before the COC. The COC decided to initiate liquidation proceedings. C.A. 356/2018 was filed under Section 33 of the Code. The Resolution Professional was proposed as the Insolvency Liquidator and consented to the appointment. C.A. 470/2018 was filed by an applicant whose claim was rejected by the Resolution Professional for being filed belatedly. The court noted that claims can be entertained until the liquidated assets are distributed.
Order delivered on…
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