Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + Tri Insolvency and Bankruptcy - 2020 (10) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (10) TMI 264 - Tri - Insolvency and BankruptcyLiquidation of the Corporate Debtor - section 33(2) of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- It is found that five claims have been received and admitted, and there are neither any fixed assets nor any business with the Corporate Debtor. Therefore, the CoC has resolved for liquidation of the Corporate Debtor vide its 4th meeting dated 07.12.2019. It is also to be noted that this Adjudicating Authority has no jurisdiction to interfere in the commercial wisdom of the CoC. The Adjudicating Authority passes an order for initiation of liquidation of the Corporate Debtor viz., Special Prints Limited. - Application admitted - moratorium declared.
|