The case pertains to I.A. No. 4427/2023 filed in Company Petition No. (IB)-1106(ND)/2018. The initial petition was filed by Panipat Texo Fabs Private Limited against Exclusive Overseas Private Limited under Section 9 of the IBC, 2016, and was admitted on 2018-10-26. The Corporate Debtor (CD) was ordered to be liquidated on 2022-12-20. The present application was filed by the Liquidator seeking approval for the sale of the Corporate Debtor as a going concern and closure of the liquidation process.
Panipat Texo Fabs Private Limited initiated corporate insolvency proceedings against Exclusive Overseas Private Limited under Section 9 of the IBC, which were admitted on 2018-10-26. The Corporate Debtor, Exclusive Overseas Private Limited, was ordered to be liquidated on 2022-12-20. Akash Shinghal was appointed as the Liquidator. The Liquidator filed I.A. No. 4427/2023 seeking approval for the sale of the Corporate Debtor as a going concern and closure of the liquidation process. The Liquidator had already sold the Corporate Debtor as a going concern and issued a Sale Certificate dated 2023-07-13 to the successful bidder, who had made the payment of 75% of the sale consideration along with interest. The application lacked the Final Report as required under Regulation
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Corporate Insolvency Resolution Process…
Exclusive Overseas…
The case pertains to I.A. No. 4427/2023 filed in Company Petition No. (IB)-1106(ND)/2018. The initial petition was filed by Panipat Texo Fabs Private Limited against Exclusive Overseas Private Limited under Section 9 of the IBC, 2016, and was admitted on 2018-10-26. The Corporate Debtor (CD) was ordered to be liquidated on 2022-12-20. The present application was filed by the Liquidator seeking approval for the sale of the Corporate Debtor as a going concern and closure of the liquidation process.
Panipat Texo Fabs Private Limited initiated corporate insolvency proceedings against Exclusive Overseas Private Limited under Section 9 of the IBC, which were admitted on 2018-10-26. The Corporate Debtor, Exclusive Overseas Private Limited, was ordered to be liquidated on 2022-12-20. Akash Shinghal was appointed as the Liquidator. The Liquidator filed I.A. No. 4427/2023 seeking approval for the sale of the Corporate Debtor as a going concern and closure of the liquidation process. The Liquidator had already sold the Corporate Debtor as a going concern and issued a Sale Certificate dated 2023-07-13 to the successful bidder, who had made the payment of 75% of the sale consideration along with interest. The application lacked the Final Report as required under Regulation
…Corporate Insolvency Resolution Process…
Exclusive Overseas…