The case pertains to IA(IBC) 725/2023 in CP(IB) No.677/7/HDB/2018 under Section 7 of the IBC, 2016. The matter involves State Bank of India as the Financial Creditor and VMC Systems Ltd as the Corporate Debtor. The Liquidator and their counsel were absent during the hearing, leading to the progress report not being taken.
The case involves IA(IBC) 725/2023 in CP(IB) No.677/7/HDB/2018, where State Bank of India is the Financial Creditor and VMC Systems Ltd is the Corporate Debtor. The Liquidator and their counsel were absent during the hearing on 25-05-2023. Consequently, the progress report was not taken. The court has scheduled the next hearing for IA on 19.06.2023. The court has warned that if the Liquidator remains absent, action against them will be recommended to IBBI. This absence is hindering the insolvency resolution process.
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The case pertains to IA(IBC) 725/2023 in CP(IB) No.677/7/HDB/2018 under Section 7 of the IBC, 2016. The matter involves State Bank of India as the Financial Creditor and VMC Systems Ltd as the Corporate Debtor. The Liquidator and their counsel were absent during the hearing, leading to the progress report not being taken.
The case involves IA(IBC) 725/2023 in CP(IB) No.677/7/HDB/2018, where State Bank of India is the Financial Creditor and VMC Systems Ltd is the Corporate Debtor. The Liquidator and their counsel were absent during the hearing on 25-05-2023. Consequently, the progress report was not taken. The court has scheduled the next hearing for IA on 19.06.2023. The court has warned that if the Liquidator remains absent, action against them will be recommended to IBBI. This absence is hindering the insolvency resolution process.
Hearing held on…
The next hear…