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Liquidation of Corporate Debtor not possible on reason that liquidation value is more than the enterprise value
Case Law Details
- Case Name
- In re Ramsarup Industries Limited (NCLT Kolkata)
- Appeal Number
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- NCLT
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In re Ramsarup Industries Limited (NCLT Kolkata)
Facts- Ramsarup Industries Limited (Corporate Debtor/Corporate Applicant) had approached the Adjudicating Authority of NCLT u/s 10 of the IBC and was admitted to Corporate Insolvency Resolution Process (‘CIRP’) on 08.01.2018. The common order dated 07.04.2022 has been passed by the NCLT Bench while deciding three interim applications together filed by various stakeholders in the matter.
A resolution plan was submitted by SS Natural Resources Ltd. (“Successful Resolution Applicant”/ “SRA”) which was approved by...
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