NCLT Orders Liquidation for SPG Macrocosm After 100% Creditor Vote

Manish Shah Vs SPG Macrocosm Ltd (NCLT Indore) The National Company Law Tribunal (NCLT), Indore Bench, in the matter of Manish D Shah vs. M/s SPG Macrocosm Limited, has ordered the liquidation of the Corporate Debtor, M/s SPG Macrocosm Limited, under Section 33(2) of the Insolvency and Bankruptcy Code, 2016 (IBC). This decision followed the unanimous resolution of the Committee of Creditors (CoC) to liquidate the company, citing the absence of ongoing business, employees, and realizable assets. Background and Corporate Insolvency Resolution Process (CIRP) The initial application under Section...