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2022 (2) TMI 739 - Tri - Insolvency and BankruptcyWinding up of Company - Section 433(e) and (f) of the Companies Act, 1956 - HELD THAT:- While the proceedings were pending before the Hon'ble High Court of Madras, one of the Creditor of the Company in Liquidation viz. Harikrishna, Proprietor of M/s. Classic Marketing has moved a Company Application No. 98 of 2021 seeking transfer of proceedings in CP No. 201 of 1996 to National Company Law Tribunal (NCLT), Chennai to be treated as an Application for initiation of Corporate Insolvency Resolution Process under the provisions of the IBC, 2016 - it is seen that the affairs of the Corporate Debtor has not yet been completely wound up and hence under the said circumstances, we hereby initiate Corporate Insolvency Resolution Process as against the Corporate Debtor viz. M/s. Neptune Inflatables Limited. The Official Liquidator is discharged of his duty in relation to the Corporate Debtor company is concerned. Application admitted - moratorium declared.
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