In the matter of Parerhat Gas Industries Ltd. Ia No.234-2022 In Cp (Ib) No.113-ALD-2017
Case brief
What is this about?
The Tribunal noted a lack of compliance with mandatory valuation norms involving two registered valuers for the closure of liquidation. Bench adjourned the application to regularize the deficiency. No final disposition recorded in this text.
What did the court decide?
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What the court decided
Page 1 of 2
THE NATIONAL COMPANY LAW TRIBUNAL ALLAHABAD BENCH, ALLAHABAD (Exercising powers of Adjudicating Authority under the Insolvency and Bankruptcy Code, 2016) (through web-based video conferencing platform)
IA No.234/2022
In
CP (IB) No.113/ALD/2017 (in liquidation) Under Regulation 32(e) read with 45 (3) (a) of IBBI (Insolvency Resolution Process for Corporate Person) Regulations, 2016
In the matter of:
M/s. Punjab National Bank …Petitioner-Operational Creditor
Versus
M/s. Parerhat Gas Industries Ltd. (in Liquidation)
…Respondent-Corporate Debtor
And in the matter of:
IA No.234/2022
Issues for consideration
1 issue framed by the court
Whether to grant an application for closure of liquidation when valuation was conducted by a single valuer instead of two as required.
Parties & counsel
- petitioner
M/s. Punjab National Bank
- respondent
M/s. Parerhat Gas Industries Ltd.
- applicant
Mr. Pawan K. Goel
Coram
Case details
As recorded by the court registry
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