Liquidation u/s. 33(1)(b) of IBC admitted in view of rejection of resolution plan

In re SPP Insolvency Professionals LLP (NCLT Ahmedabad) NCLT Ahmedabad held that Corporate Debtor [Shree Ram Cottex Industries Pvt. Ltd.] is admitted into liquidation in terms of provisions of section 33(1)(b) of the Insolvency and Bankruptcy Code, 2016 in view of rejection of resolution plan u/s. 31(2) for non-compliance with statutory requirements. Facts- The instant application is filed on 25.02.2025 by the Applicant/Resolution Professional (M/s. SPP Insolvency Professional LLP, RP of M/s. Shree Ram Cottex Industries Private Limited under Sections 30(6) and 31 of the Insolvency and Bankrup...