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2023 (2) TMI 1223 - NATIONAL COMPANY LAW TRIBUNAL HYDERABADPrayer for closure of the Liquidation Process of the Corporate Debtor - HELD THAT:- It is evident that the assets of the Corporate Debtor were sold to the Successful Bidders supra. It is seen from Form-H that the amount of Rs. 10,23,89,263/- realized from the sale of Liquidation Estate was distributed among the stakeholders as per Section 52 or 53 of the Code. A copy of the Auditor Certificate is filed at page Nos. 40 to 51(a) of the application. The details of distribution is at page Nos. 28 to 29 of the Final Report. Further, by going through the Final Report, it is evident that the Liquidator has sold the Corporate Debtor as a going concern as such it is a fit case for closure of Liquidation process. The closure of the Liquidation proceedings against the Corporate Debtor viz. M/s. ICSA (India) Limited is ordered from the date of this Order, in terms of Regulation 45 (3) of Insolvency & Bankruptcy Board of India (Liquidation Process) Regulations, 2016. Consequently, the Liquidator stands relieved. Application allowed.
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