Home Case Index All Cases Companies Law Companies Law + Tri Companies Law - 2019 (2) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (2) TMI 2013 - NATIONAL COMPANY LAW TRIBUNAL, JAIPURValidity of decision of the COC to initiate liquidation rather than consider their proposal put forth for reconsideration - HELD THAT:- It was resolved by e-voting that the assets of the Corporate Debtor be liquidated under Section 33(2) of IBC. The said approval has been granted by 88.92 per cent of voting power of the COC. It is also submitted on behalf of the RP that the period of 270 days expired on 10.02.2019. Under such circumstances, no further proposal of the resolution applicant can be taken into consideration. Given the averments made in the said application, which is duly annexed with the resolution and the affidavit of the RP, this application merits consideration. The resolution of the COC to reject the RA's proposal and proceed with liquidation is hereby approved. Application disposed off.
|