The case involves two Interlocutory Applications (I.A. 50/2023 and I.A. 3862/2022) filed in the National Company Law Tribunal (NCLT), Mumbai Bench, within the context of Corporate Insolvency Resolution Process (CIRP) for Gloabtel Convergence Limited. I.A. 50/2023 was filed by the liquidator, Vijay Pitamber Lulla, seeking closure of the liquidation process following the successful sale of the Corporate Debtor as a going concern. I.A. 3862/2022 was filed by Ganesh Enterprises, the successful bidder who purchased the Corporate Debtor, seeking various reliefs to facilitate the smooth operation of the Corporate Debtor post-acquisition.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Gloabtel Convergence Limited. Rajendra K Bhutta was initially appointed as the Interim Resolution Professional (IRP), followed by Vijay Pitamber Lulla as the Resolution Professional (RP). Due to the absence of a resolution plan, the Committee of Creditors (COC) decided to liquidate the Corporate Debtor. The NCLT ordered the liquidation on 2022-02-21, 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 I.A. 50/2023 seeking closure of the liquidation process. Ganesh Enterprises filed I.A. 3862/2022 seeking various directions, including changing
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The case involves two Interlocutory Applications (I.A. 50/2023 and I.A. 3862/2022) filed in the National Company Law Tribunal (NCLT), Mumbai Bench, within the context of Corporate Insolvency Resolution Process (CIRP) for Gloabtel Convergence Limited. I.A. 50/2023 was filed by the liquidator, Vijay Pitamber Lulla, seeking closure of the liquidation process following the successful sale of the Corporate Debtor as a going concern. I.A. 3862/2022 was filed by Ganesh Enterprises, the successful bidder who purchased the Corporate Debtor, seeking various reliefs to facilitate the smooth operation of the Corporate Debtor post-acquisition.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Gloabtel Convergence Limited. Rajendra K Bhutta was initially appointed as the Interim Resolution Professional (IRP), followed by Vijay Pitamber Lulla as the Resolution Professional (RP). Due to the absence of a resolution plan, the Committee of Creditors (COC) decided to liquidate the Corporate Debtor. The NCLT ordered the liquidation on 2022-02-21, 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 I.A. 50/2023 seeking closure of the liquidation process. Ganesh Enterprises filed I.A. 3862/2022 seeking various directions, including changing
…Filing of the Corporate…
CIRP order passed by…