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Pending Avoidance Proceedings Cannot Bar Corporate Debtor’s Liquidation: NCLT Mumbai
Case Law Details
- Case Name
- In re PCS Vaishali Patrikar (NCLT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- NCLT
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In re PCS Vaishali Patrikar (NCLT Mumbai)
The National Company Law Tribunal (NCLT), Mumbai, allowed an application filed by the Resolution Professional under Section 33(2) of the Insolvency and Bankruptcy Code, 2016 (IBC), seeking commencement of the liquidation process of the Corporate Debtor.
The Corporate Debtor was admitted into the Corporate Insolvency Resolution Process (CIRP) by an order dated 06.06.2023 passed under Section 7 of the IBC. An Interim Resolution Professional (IRP) was appointed, who issued a public announcement inviting claims. Four claims from financial ...
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