The case involves an application to set aside an earlier order dated 09.12.2022, where the Tribunal had set the suspended management of the Applicant as ex-parte. Additionally, an application (IA No.1398/2023) was filed by the Resolution Professional (RP) seeking initiation of liquidation of the corporate debtor, contending that Form-G has been published and no resolution plan was received within the stipulated time. The Corporate Debtor is not having any assets. The CoC members unanimously agreed with 100% voting for liquidation of the Corporate Debtor and directed the applicant to file an application under Section 33 (1)(a) of the Code.
Gayatri Sea Foods and Feeds Pvt Ltd filed a case against Kumar Aquatech Agencies Pvt Ltd. The Tribunal had previously set the suspended management of the Applicant as ex-parte. The RP filed an application seeking initiation of liquidation of the corporate debtor, Kumar Aquatech Agencies Pvt Ltd, because Form-G was published, and no resolution plan was received within the stipulated time. The Corporate Debtor has no assets. The CoC members unanimously agreed with 100% voting for liquidation of the Corporate Debtor. The applicant undertook to file Vakalat for suspended management, though he was about to file Vakalat by 09.12.2022, on account of illness of his mother, which resulted in setting the suspended management as ex-parte.
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The members discussed and deliberated the facts…
Tribunal set the…
The case involves an application to set aside an earlier order dated 09.12.2022, where the Tribunal had set the suspended management of the Applicant as ex-parte. Additionally, an application (IA No.1398/2023) was filed by the Resolution Professional (RP) seeking initiation of liquidation of the corporate debtor, contending that Form-G has been published and no resolution plan was received within the stipulated time. The Corporate Debtor is not having any assets. The CoC members unanimously agreed with 100% voting for liquidation of the Corporate Debtor and directed the applicant to file an application under Section 33 (1)(a) of the Code.
Gayatri Sea Foods and Feeds Pvt Ltd filed a case against Kumar Aquatech Agencies Pvt Ltd. The Tribunal had previously set the suspended management of the Applicant as ex-parte. The RP filed an application seeking initiation of liquidation of the corporate debtor, Kumar Aquatech Agencies Pvt Ltd, because Form-G was published, and no resolution plan was received within the stipulated time. The Corporate Debtor has no assets. The CoC members unanimously agreed with 100% voting for liquidation of the Corporate Debtor. The applicant undertook to file Vakalat for suspended management, though he was about to file Vakalat by 09.12.2022, on account of illness of his mother, which resulted in setting the suspended management as ex-parte.
The members discussed and deliberated the facts…
Tribunal set the…