The Tribunal approved the Resolution Professional's application for initiating liquidation under Section 33, relying on the Committee of Creditors' resolution and absence of interest.
Liquidation process approved; Liquidator to commence process and submit report by 05.09.2019.
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IN THE NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH
(29) MA-1419/2019 In C.P.(IB)-2490-(MB)/2018
CORAM: SHRI M.K. SHRAWAT
MEMBER (J)
ORDER SHEET OF THE HEARING OF MUMBAI BENCH OF THE NATIONAL COMPANY LAW TRIBUNAL ON 23.07.2019
NAME OF THE PARTIES: Lexcorp Advisory Services Pvt. Ltd. V/s Proline Infra-Trading Pvt. Ltd.
SECTION: 9 OF THE INSOLVENCY AND BANKRUPTCY CODE.
ORDER
Sd/-
M.K. SHRAWAT Member (Judicial)
23.07.2019 Aah=
2 issues framed by the court
Whether to approve the application for initiation of liquidation process filed by the Resolution Professional.
Whether the Resolution of the Committee of Creditors to approve liquidation can be adopted for commencement of the process.
2 provisions across 1 enactments
Lexcorp Advisory Services Pvt. Ltd.
Proline Infra-Trading Pvt. Ltd.
M.K. SHRAWAT
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
