The case involves an application under Section 33(1) of the Insolvency and Bankruptcy Code (IBC) filed by the Resolution Professional (RP). The RP brought on record the resolution passed by the Committee of Creditors (COC) to proceed with the liquidation of the Corporate Debtor, citing a low probability of business revival. A resolution dated July 9, 2018, and the consent of Mr. Debashish Nanda to act as the Insolvency Liquidator were also placed on record.
The Resolution Professional (RP) filed an application under Section 33(1) of the IBC, seeking liquidation of the Corporate Debtor. The Committee of Creditors (COC) had passed a resolution to proceed with liquidation, based on the assessment that there was a low probability of the Corporate Debtor's business revival. A resolution dated July 9, 2018, was placed on record. Mr. Debashish Nanda's consent to act as the Insolvency Liquidator was also submitted and taken on record. The application was filed before the New Delhi Bench of the National Company Law Tribunal (NCLT) on October 31, 2018. The Corporate Debtor is M/s. Dailmer Financial Services Pvt. Ltd. The application was filed against M/s. Sharda Gems And Jewels Pvt. Ltd.
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Resolution dated 9th…
Hearing before the New…
The case involves an application under Section 33(1) of the Insolvency and Bankruptcy Code (IBC) filed by the Resolution Professional (RP). The RP brought on record the resolution passed by the Committee of Creditors (COC) to proceed with the liquidation of the Corporate Debtor, citing a low probability of business revival. A resolution dated July 9, 2018, and the consent of Mr. Debashish Nanda to act as the Insolvency Liquidator were also placed on record.
The Resolution Professional (RP) filed an application under Section 33(1) of the IBC, seeking liquidation of the Corporate Debtor. The Committee of Creditors (COC) had passed a resolution to proceed with liquidation, based on the assessment that there was a low probability of the Corporate Debtor's business revival. A resolution dated July 9, 2018, was placed on record. Mr. Debashish Nanda's consent to act as the Insolvency Liquidator was also submitted and taken on record. The application was filed before the New Delhi Bench of the National Company Law Tribunal (NCLT) on October 31, 2018. The Corporate Debtor is M/s. Dailmer Financial Services Pvt. Ltd. The application was filed against M/s. Sharda Gems And Jewels Pvt. Ltd.
Resolution dated 9th…
Hearing before the New…