The case involves an application (I.A. 3862/2022) filed by Ganesh Enterprises, the successful bidder who purchased Gloabtel Convergence Limited (Corporate Debtor) as a going concern in an auction conducted by the liquidator. The applicant sought various reliefs to smoothly run the Corporate Debtor. Another application (I.A. 50/2023) was filed by the liquidator under section 35(1)(n) of the Insolvency and Bankruptcy Code, 2016, seeking closure of the liquidation process following the successful sale of the Corporate Debtor as a going concern. The CIRP order was passed on 12.02.2019. The COC decided to liquidate the Corporate Debtor on 21.02.2022.
Gloabtel Convergence Limited was undergoing CIRP, initiated by Darshita Haresh Mehta. Rajendra K Bhutta was initially appointed as IRP, later replaced by Vijay Pitamber Lulla as Resolution Professional. Due to the absence of a resolution plan, the COC decided to liquidate the Corporate Debtor, and the NCLT passed a liquidation order on 21.02.2022, appointing Vijay Pitamber Lulla as the liquidator. The liquidator conducted e-auctions to sell the Corporate Debtor as a going concern. Ganesh Enterprises emerged as the successful bidder. The liquidator filed an application (I.A. 50/2023) for closure of the liquidation process. Ganesh Enterprises also filed an application (I.A. 3862/2022) seeking various reliefs, including changing the status of the Corporate Debtor in the
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Filing of the Corporate…
CIRP order passed by…
The case involves an application (I.A. 3862/2022) filed by Ganesh Enterprises, the successful bidder who purchased Gloabtel Convergence Limited (Corporate Debtor) as a going concern in an auction conducted by the liquidator. The applicant sought various reliefs to smoothly run the Corporate Debtor. Another application (I.A. 50/2023) was filed by the liquidator under section 35(1)(n) of the Insolvency and Bankruptcy Code, 2016, seeking closure of the liquidation process following the successful sale of the Corporate Debtor as a going concern. The CIRP order was passed on 12.02.2019. The COC decided to liquidate the Corporate Debtor on 21.02.2022.
Gloabtel Convergence Limited was undergoing CIRP, initiated by Darshita Haresh Mehta. Rajendra K Bhutta was initially appointed as IRP, later replaced by Vijay Pitamber Lulla as Resolution Professional. Due to the absence of a resolution plan, the COC decided to liquidate the Corporate Debtor, and the NCLT passed a liquidation order on 21.02.2022, appointing Vijay Pitamber Lulla as the liquidator. The liquidator conducted e-auctions to sell the Corporate Debtor as a going concern. Ganesh Enterprises emerged as the successful bidder. The liquidator filed an application (I.A. 50/2023) for closure of the liquidation process. Ganesh Enterprises also filed an application (I.A. 3862/2022) seeking various reliefs, including changing the status of the Corporate Debtor in the
…Filing of the Corporate…
CIRP order passed by…