The Interlocutory Application (IA 1861/2022) was filed by the Liquidator, Avil Menezes, for the dissolution of the Corporate Debtor, Polychroic Petrochemicals Pvt. Ltd., under Section 54 read with Section 60(5) of the Insolvency and Bankruptcy Code, 2016, and Rule 11 of the National Company Law Tribunal Rules, 2016. The Corporate Debtor had previously initiated its own Corporate Insolvency Resolution Process (CIRP) under Section 10 of the Code, vide CP (IB) 1313/2017.
Polychroic Petrochemicals Pvt. Ltd. initiated its own Corporate Insolvency Resolution Process (CIRP) under Section 10 of the Insolvency and Bankruptcy Code, 2016, via CP (IB) 1313/2017. The liquidation process was approved on 20.02.2019, and Avil Menezes was appointed as the Liquidator. A public announcement was made on 05.03.2019. The Liquidator filed a final report on 01.07.2022, stating that all assets had been liquidated. The liquidator then filed IA 1861/2022 seeking dissolution of the Corporate Debtor under Section 54 of the IBC. The new bank account opened on 30.03.2019 has been closed on 16.06.2023. The applicant has intimated RoC vide Form INC28 about the Commencement of Liquidation.
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CP (IB) No. 1313/MB/2017…
Liquidation process…
The Interlocutory Application (IA 1861/2022) was filed by the Liquidator, Avil Menezes, for the dissolution of the Corporate Debtor, Polychroic Petrochemicals Pvt. Ltd., under Section 54 read with Section 60(5) of the Insolvency and Bankruptcy Code, 2016, and Rule 11 of the National Company Law Tribunal Rules, 2016. The Corporate Debtor had previously initiated its own Corporate Insolvency Resolution Process (CIRP) under Section 10 of the Code, vide CP (IB) 1313/2017.
Polychroic Petrochemicals Pvt. Ltd. initiated its own Corporate Insolvency Resolution Process (CIRP) under Section 10 of the Insolvency and Bankruptcy Code, 2016, via CP (IB) 1313/2017. The liquidation process was approved on 20.02.2019, and Avil Menezes was appointed as the Liquidator. A public announcement was made on 05.03.2019. The Liquidator filed a final report on 01.07.2022, stating that all assets had been liquidated. The liquidator then filed IA 1861/2022 seeking dissolution of the Corporate Debtor under Section 54 of the IBC. The new bank account opened on 30.03.2019 has been closed on 16.06.2023. The applicant has intimated RoC vide Form INC28 about the Commencement of Liquidation.
CP (IB) No. 1313/MB/2017…
Liquidation process…