The application IA-973/2023 was filed under Section 54 of the IBC, 2016, by the Liquidator seeking dissolution of the company. The Liquidator had previously sought permission in IA-5761/2022 to sell sundry receivables of the Corporate Debtor (CD) to Mr. Bala Subrahmanyam for Rs. 25,500, while the assets were valued at Rs. 14,22,110. Permission for the sale was not granted due to the significant reduction in value. The Liquidator was directed to undertake proper publication of the sundry receivables identified for sale in two nationalized newspapers and file an affidavit of compliance within 15 days. Further, the Liquidator was asked to file an inventory of the articles to be disposed of along with the price offered in the tender.
The Liquidator filed IA-973/2023 seeking dissolution of the company under Section 54 of the IBC, 2016. In a prior application, IA-5761/2022, the Liquidator sought permission to sell sundry receivables of the Corporate Debtor (CD) to Mr. Bala Subrahmanyam for Rs. 25,500. The assets were valued at Rs. 14,22,110, indicating a significant reduction in value. The court did not grant permission for the sale and directed the Liquidator to undertake proper publication in two nationalized newspapers and file an affidavit of compliance within 15 days. The Liquidator was also asked to file an inventory of the articles to be disposed of along with the price offered in the tender. The affidavits were not available on record. The court directed the Liquidator to file a single
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Vide order dated 25.11.2022 in IA-5761/2022, the…
Vide order dated 23.01.2023, the Liquidator…
The application IA-973/2023 was filed under Section 54 of the IBC, 2016, by the Liquidator seeking dissolution of the company. The Liquidator had previously sought permission in IA-5761/2022 to sell sundry receivables of the Corporate Debtor (CD) to Mr. Bala Subrahmanyam for Rs. 25,500, while the assets were valued at Rs. 14,22,110. Permission for the sale was not granted due to the significant reduction in value. The Liquidator was directed to undertake proper publication of the sundry receivables identified for sale in two nationalized newspapers and file an affidavit of compliance within 15 days. Further, the Liquidator was asked to file an inventory of the articles to be disposed of along with the price offered in the tender.
The Liquidator filed IA-973/2023 seeking dissolution of the company under Section 54 of the IBC, 2016. In a prior application, IA-5761/2022, the Liquidator sought permission to sell sundry receivables of the Corporate Debtor (CD) to Mr. Bala Subrahmanyam for Rs. 25,500. The assets were valued at Rs. 14,22,110, indicating a significant reduction in value. The court did not grant permission for the sale and directed the Liquidator to undertake proper publication in two nationalized newspapers and file an affidavit of compliance within 15 days. The Liquidator was also asked to file an inventory of the articles to be disposed of along with the price offered in the tender. The affidavits were not available on record. The court directed the Liquidator to file a single
…Vide order dated 25.11.2022 in IA-5761/2022, the…
Vide order dated 23.01.2023, the Liquidator…