The case involves an application for the dissolution of M/s Karan Processors Private Limited, the Corporate Debtor, under Section 54 of the Insolvency and Bankruptcy Code, 2016. The corporate insolvency resolution process (CIRP) was initiated following an application by M/s Ultratreat Industrial Services, an Operational Creditor, under Section 9 of the IBC. The Adjudicating Authority admitted the application on 22.01.2020. Mr. Sameer Rastogi was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Amar Nath based on the decision of the Committee of Creditors (CoC). The CoC ultimately decided to liquidate the Corporate Debtor due to the non-operational state of its plant and machinery since February 2019. The liquidator then made a

The case involves an application for the dissolution of M/s Karan Processors Private Limited, the Corporate Debtor, under Section 54 of the Insolvency and Bankruptcy Code, 2016. The corporate insolvency resolution process (CIRP) was initiated following an application by M/s Ultratreat Industrial Services, an Operational Creditor, under Section 9 of the IBC. The Adjudicating Authority admitted the application on 22.01.2020. Mr. Sameer Rastogi was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Amar Nath based on the decision of the Committee of Creditors (CoC). The CoC ultimately decided to liquidate the Corporate Debtor due to the non-operational state of its plant and machinery since February 2019. The liquidator then made a