The case involves an application under Section 54 of the Insolvency and Bankruptcy Code, 2016, read with Regulation 45(3) of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016, in the matter of Eastern Gases Ltd. The court is reviewing the liquidation process and accounts maintained by the liquidator.
Eastern Gases Ltd. is undergoing liquidation. The liquidation order was passed on 2018-08-21. The liquidator opened a liquidation account on 2018-09-06 with Central Bank of India (CBI). Audited statements revealed the maintenance of other accounts with CBI and ICICI Bank. The liquidator is directed to file an affidavit showing all pre-liquidation accounts were closed and funds transferred to the liquidation account. The liquidator must provide bank statements and a certificate from CBI confirming the liquidation account's closure with a zero balance. IA(IBC)/1084(KB)2023 was reserved for order on 2023-06-28.
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Liquidation or…
Liquidator opened a…
The case involves an application under Section 54 of the Insolvency and Bankruptcy Code, 2016, read with Regulation 45(3) of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016, in the matter of Eastern Gases Ltd. The court is reviewing the liquidation process and accounts maintained by the liquidator.
Eastern Gases Ltd. is undergoing liquidation. The liquidation order was passed on 2018-08-21. The liquidator opened a liquidation account on 2018-09-06 with Central Bank of India (CBI). Audited statements revealed the maintenance of other accounts with CBI and ICICI Bank. The liquidator is directed to file an affidavit showing all pre-liquidation accounts were closed and funds transferred to the liquidation account. The liquidator must provide bank statements and a certificate from CBI confirming the liquidation account's closure with a zero balance. IA(IBC)/1084(KB)2023 was reserved for order on 2023-06-28.
Liquidation or…
Liquidator opened a…