Neptune Ventures and Developers Pvt. Ltd. directed to be liquidated on expiry of CIRP period

Edelweiss Asset Reconstruction Company Limited Vs Neptune Ventures and Developers Private Limited NCLT Mumbai held that corporate debtor [Neptune Ventures and Developers Private Limited] shall be liquidated considering that CIRP period has expired and at present there is no resolution plan for consideration of the CoC. Facts- Upon an application filed by Edelweiss Asset Reconstruction Company Limited (‘Financial Creditor’) under Section 7 of the Code, this Tribunal, vide order dated 17.07.2023, commenced corporate insolvency resolution process (‘CIRP’) of the corporate debtor and appoi...