The application was filed under Section 60(5) of the Insolvency & Bankruptcy Code, 2016, read with Rule 11 of the NCLT Rules 2016, seeking the appointment of an Insolvency Professional from the empanelled list as the Liquidator of the Corporate Debtor in place of the Applicant.
Alliance Broadband Services Private Limited filed an application under Section 7 of the IBC Code, which was admitted on 18th September 2019, initiating the Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor.
As there was no resolution plan at the end of the CIRP period, the liquidation of the Corporate Debtor was directed on 06th April 2022.
The Liquidator, Kuldeep Verma, carried out the liquidation process and sold one major asset of the Company, being 77500 shares of the Corporate Debtor.
The Disciplinary Committee of IBBI passed an order on 7th April 2025, suspending the registration of the applicant (Kuldeep Verma) for 2 years, effective from 6th May 2025.
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Application filed by Alliance Broadband…
As there was no resolution plan at the end of…
The application was filed under Section 60(5) of the Insolvency & Bankruptcy Code, 2016, read with Rule 11 of the NCLT Rules 2016, seeking the appointment of an Insolvency Professional from the empanelled list as the Liquidator of the Corporate Debtor in place of the Applicant.
Alliance Broadband Services Private Limited filed an application under Section 7 of the IBC Code, which was admitted on 18th September 2019, initiating the Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor.
As there was no resolution plan at the end of the CIRP period, the liquidation of the Corporate Debtor was directed on 06th April 2022.
The Liquidator, Kuldeep Verma, carried out the liquidation process and sold one major asset of the Company, being 77500 shares of the Corporate Debtor.
The Disciplinary Committee of IBBI passed an order on 7th April 2025, suspending the registration of the applicant (Kuldeep Verma) for 2 years, effective from 6th May 2025.
…Application filed by Alliance Broadband…
As there was no resolution plan at the end of…