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NATIONAL COMPANY LAW TRIBUNAL
Shammi Khan, Judicial Member, Sameer Kakar, Technical Member
Jigar Bhatt – Appellant
Versus
Vivekanand Dhaneshwar Jha – Respondent
| Table of Content |
|---|
| 1. process of seeking liquidation due to failure in receiving a resolution plan. (Para 1 , 2 , 3 , 4 , 5 , 6 , 7 , 8 , 9 , 10 , 11 , 12) |
| 2. dismissal of allegations against the resolution professional and bank by the suspended management. (Para 13 , 14 , 15 , 16 , 17 , 18 , 20 , 21 , 22 , 23 , 24 , 25 , 26 , 27 , 28 , 29 , 30 , 31 , 32 , 33 , 34 , 35 , 36) |
| 3. approval of liquidation based on the commercial decision of the committee of creditors. (Para 37 , 38 , 39 , 40) |
| 4. disposal of ancillary applications rendered infructuous by the main order. (Para 41 , 42) |
COMMON ORDER
(Per: Bench)
IA/105(AHM)2022
1. The IA/105(AHM)2022 is an application filed by the Resolution Professional (RP) under Sections 33 & 34 r.w. Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (“IBC, 2016”) seeking the following prayers:
“A. Pass an order directing the initiation of Liquidation of the Corporate Debtor in accordance with Chapter III of Part II of the IBC, 2016;
B. Appoint Applicant i.e., Mr. Jigar Bhatt, IBBI Registration No. IBBI/IPA-001/IP-P-01917/2019-2020/13005, as the liquidator of the Corporate Debtor.
C. Pass ad-interim and interim reliefs in terms of Clause A and B.
D. Pass such
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