Exclusive Engineers Private Limited was admitted into CIRP via an order dated 2019-11-21. The Committee of Creditors (CoC) consists of two operational creditors: the Union of India (99.05% share) and the Commissioner of Commercial Tax, Government of West Bengal (0.95% share). The Resolution Professional (RP) filed IA(IBC)/1053(KB)2022 seeking liquidation of the Corporate Applicant. The Corporate Applicant lacks assets and cooperation from the suspended Board of Directors. The CoC members have not provided funds to cover the CIRP costs. The central issue is who will bear the costs if a liquidation order is issued.

Exclusive Engineers Private Limited was admitted into CIRP via an order dated 2019-11-21. The Committee of Creditors (CoC) consists of two operational creditors: the Union of India (99.05% share) and the Commissioner of Commercial Tax, Government of West Bengal (0.95% share). The Resolution Professional (RP) filed IA(IBC)/1053(KB)2022 seeking liquidation of the Corporate Applicant. The Corporate Applicant lacks assets and cooperation from the suspended Board of Directors. The CoC members have not provided funds to cover the CIRP costs. The central issue is who will bear the costs if a liquidation order is issued.