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 the Corporate Debtor, Duckbill Drugs Private Limited, 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. As no resolution plan was received, the Committee of Creditors (CoC) resolved to liquidate the Corporate Debtor on 17.12.2020. An application for liquidation was filed and an order of liquidation was passed on 13.04.2021, appointing a liquidator. The sale of the Corporate Debtor as a
…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 for liquidation on 17.12.2020. 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. 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 Paul Brothers, and a sale
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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 the Corporate Debtor, Duckbill Drugs Private Limited, 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. As no resolution plan was received, the Committee of Creditors (CoC) resolved to liquidate the Corporate Debtor on 17.12.2020. An application for liquidation was filed and an order of liquidation was passed on 13.04.2021, appointing a liquidator. The sale of the Corporate Debtor as a
…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 for liquidation on 17.12.2020. 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. 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 Paul Brothers, and a sale
…Duckbill Drugs Private Limited admitted into…
Committee of Creditors…