Liquidation of Multicity Hospitals LLP directed in terms of section 33(2) of IBC

Indo Spirits Vs Multicity Hospitals LLP (NCLT Mumbai) NCLT Mumbai held that application for liquidation of Corporate Debtor [Multicity Hospitals LLP] in terms of section 33(2) of the Insolvency and Bankruptcy Code [IBC] is allowed as decided by members of CoC. Facts- This is an application filed by Mr. Shailesh Chandra Ojha, Resolution Professional (“RP”) of M/S Multicity Hospitalities LLP, the Corporate Debtor before this Adjudicating Authority under Section 33 (2) of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the liquidation proceedings against the Corporate Debtor ...