Liquidation of Corporate Debtor allowed due to non-cooperation of management

Loveni Marketing & Advertising Pvt. Ltd. Vs SN Cinema Advertising Pvt. Ltd. (NCLT Delhi) NCLT Delhi held that application for initiation of liquidation of the Corporate Debtor filed under section 33(2) read with section 33(1)(b) of the Insolvency and Bankruptcy Code is allowed in view of non-cooperation of the management. Facts- This Application has been filed by the Applicant being the Resolution Professional, before this Adjudicating Authority under Section 33(2) read with Section 33(1)(b)(i), (ii), (iii) and Section 34 of the Insolvency and Bankruptcy Code, 2016 and Rule 11 of the NCLT...