NCLT Orders CoC Members and Suspended Management to Cooperate with Liquidator

In re Racharla Ramakrishna Gupta (NCLT Hyderabad) The National Company Law Tribunal (NCLT), Hyderabad Bench-II, has ordered the liquidation of M/S Neocortex Life Sciences Private Limited, a corporate debtor, after concluding that its Corporate Insolvency Resolution Process (CIRP) had failed to yield a viable resolution. The decision was made in response to an application filed by Interim Resolution Professional (IRP) Racharla Ramakrishna Gupta, who highlighted the company’s weak financial state and a lack of cooperation from its creditors and management. The CIRP for Neocortex Life Scie...