The Vl Proceedings are withdrawn by Nclt -Bangalore
Case brief
What is this about?
The Tribunal dismissed the Company Petition under Section 59(7) of the Insolvency and Bankruptcy Code, 2016, as withdrawn. The withdrawal was sought by the Liquidator citing inability to pay outstanding liabilities and under Voluntary Liquidation Regulations.
What did the court decide?
Dismissal of Company Petition CP (IB) No.164/BB/2023 as withdrawn by the Liquidator.
What the court decided
IN THE NATIONAL COMPANY LAW TRIBUNAL BENGALURU BENCH, BENGALURU
(Through Physical Hearing / VC mode [Hybrid])
ITEM No. 01 CP (IB) No.164/BB/2023
IN THE MATTER OF:
M/s. Jaiprakash Engineering and Steel Co. Ltd. (under Voluntary Liquidation) Vs.
… Petitioner
… Respondent
Order under Section 59 of Insolvency & Bankruptcy Code, 2016
Order delivered on: 16.04.2024
CORAM:
SHRI K. BISWAL HON’BLE MEMBER (JUDICIAL)
Issues for consideration
1 issue framed by the court
Whether the Company Petition under Section 59(7) of the I&B Code deserves to be withdrawn upon application by the Liquidator.
Parties & counsel
- petitioner
M/s. Jaiprash Engineering and Steel Co. Ltd.
- other
M/s. Amlika Mercantile Private Limited
Coram
K. Biswal
Case details
As recorded by the court registry
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