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NATIONAL COMPANY LAW TRIBUNAL
Rekha Kantilal Shah, Member (Technical)
Dewesh Auto Creative Services Pvt Ltd – Appellant
Versus
A.K. Power Industries Pvt Ltd – Respondent
| Table of Content |
|---|
| 1. details of the corporate debtor and application filed (Para 2) |
| 2. history of insolvency proceedings and liquidation process (Para 3) |
| 3. arguments regarding sale of assets and conditions (Para 4) |
| 4. counsel's submissions on compliance and payments (Para 5) |
| 5. court analysis of applicability of previous judgments (Para 6) |
| 6. disposal of the application and approval of reliefs (Para 7) |
| 7. final order and directions issued by the court (Para 8 , 9 , 10 , 11) |
ORDER
Per: Rekha Kantilal Shah, Member (Technical)
1. The Court convened through physical mode.
2. The present application I.A.(IB) No.606/KB/2025 has been filed by Veena Credit and Holding Pvt. Ltd, (“Successful Bidder”) of the Corporate Debtor A.K Power Industries Pvt Ltd (in Liquidation) under Section 60 (5) of the Insolvency and Bankruptcy Code, 2016 seeking following prayers:
a) Approve the sale of the Corporate Debtor (in Liquidation) as a going concern with residual assets only (including Flat No.401, Flat No.601 and residua; scrap/inventory);
b) Pass an order granting the reliefs and concessions more fully detailed in schedule hereto;
c) Pass such other and further orders as this Hon’ble Tribunal may deem just, prope
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