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Tribunals and CommissionsDivision Bench(2024) 05 NCLT CK 3354

Arsec (India) Ltd vs Kaveri Gas Power Pvt Ltd

National Company Law Tribunal · Decided on 10 May 2024

HON’BLE JUDGES
Sanjiv Jain, Member (Judicial) · Venkataraman Subramaniam, Member (Technical)
CASE NUMBER
CP(IB)/82/(CHE)/2021, IA(DIS)/13(CHE)2024

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Judgment

6 paragraphs · 124 words

Heard.

This application has been filed for closure of the liquidation process of the Corporate Debtor which has been sold as a going concern to Mr. S.Elangovan. This Tribunal vide an order dated 26.04.2024 had allowed the application for sale of the Corporate Debtor as a going concern and directed the Liquidator to file an application under Regulation 45(3) of IBBI (Liquidation Process) Regulations, 2016.

It is submitted that the Corporate Debtor has been handed over to the successful purchaser.

Recording this fact and the fact that no other application relating to PUFE transactions is pending, we allow the application and order for the closure of the liquidation process of the Corporate Debtor.

IA(DIS)/13(CHE)2024 is accordingly disposed of.

Main petition be consigned to records.