The case pertains to an application filed under Regulation 45(3)(a) of the Insolvency & Bankruptcy Board of India (Liquidation Process) Regulations, 2016, seeking the closure of the liquidation process of Duckbill Drugs Private Limited, the Corporate Debtor, which was sold as a 'Going Concern'. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) on 17.12.2019 based on an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC, 2016) by a financial creditor. No resolution plan was received, leading to a decision by the Committee of Creditors (CoC) on 17.12.2020 to liquidate the Corporate Debtor. An order for liquidation was passed on 13.04.2021, and a liquidator was appointed. The sale of the Corporate
…Duckbill Drugs Private Limited, the Corporate Debtor, was admitted into Corporate Insolvency Resolution Process (CIRP) on 17.12.2019 based on an application under Section 7 of the Insolvency and Bankruptcy Code, 2016. No resolution plan was received, leading the Committee of Creditors (CoC) to resolve on 17.12.2020 to liquidate the Corporate Debtor. An order for liquidation was passed on 13.04.2021, and a liquidator, CA Santanu Brahma, was appointed. A public announcement in Form B was issued on 13.04.2021. The sale of the Corporate Debtor as a going concern was permitted on 09.05.2022, and an e-auction was conducted. M/s. Paul Brothers emerged as the successful bidder on 11.05.2022 with a bid of Rs. 5,00,00,000. The liquidator handed over physical possession to M/s.
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Duckbill Drugs Private Limited admitted into…
Committee of Creditors…
The case pertains to an application filed under Regulation 45(3)(a) of the Insolvency & Bankruptcy Board of India (Liquidation Process) Regulations, 2016, seeking the closure of the liquidation process of Duckbill Drugs Private Limited, the Corporate Debtor, which was sold as a 'Going Concern'. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) on 17.12.2019 based on an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC, 2016) by a financial creditor. No resolution plan was received, leading to a decision by the Committee of Creditors (CoC) on 17.12.2020 to liquidate the Corporate Debtor. An order for liquidation was passed on 13.04.2021, and a liquidator was appointed. The sale of the Corporate
…Duckbill Drugs Private Limited, the Corporate Debtor, was admitted into Corporate Insolvency Resolution Process (CIRP) on 17.12.2019 based on an application under Section 7 of the Insolvency and Bankruptcy Code, 2016. No resolution plan was received, leading the Committee of Creditors (CoC) to resolve on 17.12.2020 to liquidate the Corporate Debtor. An order for liquidation was passed on 13.04.2021, and a liquidator, CA Santanu Brahma, was appointed. A public announcement in Form B was issued on 13.04.2021. The sale of the Corporate Debtor as a going concern was permitted on 09.05.2022, and an e-auction was conducted. M/s. Paul Brothers emerged as the successful bidder on 11.05.2022 with a bid of Rs. 5,00,00,000. The liquidator handed over physical possession to M/s.
…Duckbill Drugs Private Limited admitted into…
Committee of Creditors…