NCLT Orders Dissolution as All Assets Were Liquidated & Distributed Under Section 53

Navin Khandelwal Vs HDFC Bank Ltd & Ors (NCLT Indore) In Navin Khandelwal Vs HDFC Bank Ltd & Ors, the NCLT Indore Bench considered an application filed by the Liquidator under Section 54 of the Insolvency and Bankruptcy Code, 2016 seeking dissolution of Oxygen Lifeline Retail Private Limited after completion of liquidation proceedings. The Corporate Debtor was admitted into CIRP on 7 October 2021 and later ordered into liquidation on 22 September 2022. The Liquidator conducted the liquidation process in accordance with the IBC and Liquidation Process Regulations. Public announcement in...