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NATIONAL COMPANY LAW TRIBUNAL
Mr. Praveen Gupta, Member (Judicial), Mr. Ashish Verma, Member (Technical)
ROHIT SEHGAL LIQUIDATOR OF Shri Lakshmi Cotsyn Limited – Appellant
Versus
RUNGTA CARRIERS LIMITED – Respondent
| Table of Content |
|---|
| 1. application for approval of acquisition plan. (Para 1 , 2 , 3) |
| 2. details of scc meetings and asset sale decisions. (Para 4 , 5 , 6 , 7) |
| 3. successful auction and bid details. (Para 8 , 9 , 10 , 11) |
| 4. acquisition plan and eligibility of the bidder. (Para 12 , 14 , 15 , 16) |
| 5. arguments regarding reliefs and concessions. (Para 17 , 18 , 19 , 20 , 21) |
| 6. court's analysis of going concern sale. (Para 22 , 23 , 24 , 25 , 26 , 27 , 28) |
| 7. approval of the acquisition plan with directions. (Para 29 , 30 , 31) |
| 8. final orders and directions issued. (Para 32 , 33 , 34 , 35) |
1. This Application has been filed by the liquidator of the Corporate Debtor namely, Shree Lakshmi Cotsyn Limited on 07.03.2025 under section 35(1)(n) and section 60(5) of the insolvency and bankruptcy code, 2016 read with rule 11 of National Company Law Tribunal rules seeking approval of acquisition plan submitted by Rungta Carriers Ltd. for the acquisition of the Corporate Debtor as a whole on a going concern basis (identified as Block B in the e-auction notice). The Applicant has prayed following reliefs from this tribunal:-
a. Allow the present application and approve the Acquisition Plan annexed as Annexu
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