The case pertains to an application under Section 54(1) of the Insolvency and Bankruptcy Code, 2016, read with Regulation 45(3) of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016. The application, IA(IBC)/906(KB)2023, was filed in CP(IB)/1369(KB)2018. The court observed that certain accounts maintained by the Corporate Debtor with DBS Bank, Kolkata, remained open and the funds therein needed to be transferred to the liquidation account with Punjab National Bank (PNB).
The Corporate Debtor, LTS Plastics (India) Private Limited, is undergoing liquidation. An application, IA(IBC)/906(KB)2023, was filed under Section 54(1) of the Insolvency and Bankruptcy Code, 2016. During the review of the application, the court discovered that certain accounts maintained by the Corporate Debtor with DBS Bank, Kolkata, were still open. The funds in these accounts were supposed to be transferred to the liquidation account with Punjab National Bank (PNB). The liquidation account number is 0389202100000018. The court directed the Liquidator to file an affidavit with supporting documents to confirm the closure of the DBS Bank accounts and the transfer of funds to the PNB liquidation account. The Liquidator must also provide bank statements and a
…Sign in to view the parties.
IA(IBC)/906(KB)…
The clarificati…
The case pertains to an application under Section 54(1) of the Insolvency and Bankruptcy Code, 2016, read with Regulation 45(3) of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016. The application, IA(IBC)/906(KB)2023, was filed in CP(IB)/1369(KB)2018. The court observed that certain accounts maintained by the Corporate Debtor with DBS Bank, Kolkata, remained open and the funds therein needed to be transferred to the liquidation account with Punjab National Bank (PNB).
The Corporate Debtor, LTS Plastics (India) Private Limited, is undergoing liquidation. An application, IA(IBC)/906(KB)2023, was filed under Section 54(1) of the Insolvency and Bankruptcy Code, 2016. During the review of the application, the court discovered that certain accounts maintained by the Corporate Debtor with DBS Bank, Kolkata, were still open. The funds in these accounts were supposed to be transferred to the liquidation account with Punjab National Bank (PNB). The liquidation account number is 0389202100000018. The court directed the Liquidator to file an affidavit with supporting documents to confirm the closure of the DBS Bank accounts and the transfer of funds to the PNB liquidation account. The Liquidator must also provide bank statements and a
…IA(IBC)/906(KB)…
The clarificati…