The case involves an application filed by the Resolution Professional under Section 33 of the Insolvency and Bankruptcy Code, 2016, seeking directions for the liquidation of the corporate debtor, M/s. World Consulting & Research Corporation Private Limited. The operational creditor, Mr. Tathagata Bhattacharya, had initially filed an application under Sections 433, 434 & 439 of the Companies Act, 2013, before the Hon'ble High Court of Delhi, which was later transferred to the NCLT. The Corporate Insolvency Resolution Process (CIRP) was initiated on 2018-01-08, and Mr. Pankaj Khetan was appointed as the Interim Resolution Professional (IRP).
The operational creditor, Mr. Tathagata Bhattacharya, initiated proceedings against M/s World Consulting & Research Corporation Pvt. Ltd. under the Companies Act, 2013, which were later transferred to the NCLT. The NCLT admitted the application on 2018-01-08, initiating the Corporate Insolvency Resolution Process (CIRP). The corporate debtor was a consultancy firm with limited assets, primarily three vehicles, two of which were already sold. HDFC Bank, the sole member of the committee of creditors, objected to further CIRP expenses, stating that the company's only remaining asset was a car valued at Rs 9.75 lacs as per the valuation report dated 2019-01-11. The Corporate Insolvency Resolution Period had expired, and there was no resolution plan or possibility of
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Company Petition No.…
The application was admitted by the…
The case involves an application filed by the Resolution Professional under Section 33 of the Insolvency and Bankruptcy Code, 2016, seeking directions for the liquidation of the corporate debtor, M/s. World Consulting & Research Corporation Private Limited. The operational creditor, Mr. Tathagata Bhattacharya, had initially filed an application under Sections 433, 434 & 439 of the Companies Act, 2013, before the Hon'ble High Court of Delhi, which was later transferred to the NCLT. The Corporate Insolvency Resolution Process (CIRP) was initiated on 2018-01-08, and Mr. Pankaj Khetan was appointed as the Interim Resolution Professional (IRP).
The operational creditor, Mr. Tathagata Bhattacharya, initiated proceedings against M/s World Consulting & Research Corporation Pvt. Ltd. under the Companies Act, 2013, which were later transferred to the NCLT. The NCLT admitted the application on 2018-01-08, initiating the Corporate Insolvency Resolution Process (CIRP). The corporate debtor was a consultancy firm with limited assets, primarily three vehicles, two of which were already sold. HDFC Bank, the sole member of the committee of creditors, objected to further CIRP expenses, stating that the company's only remaining asset was a car valued at Rs 9.75 lacs as per the valuation report dated 2019-01-11. The Corporate Insolvency Resolution Period had expired, and there was no resolution plan or possibility of
…Company Petition No.…
The application was admitted by the…