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Tribunals and CommissionsDivision Bench(2019) 10 NCLT CK 0634

ICICI Bank vs Anil Printers Ltd.

National Company Law Tribunal · Decided on 15 October 2019

HON’BLE JUDGES
M.K. Shrawat, Member (Judicial) · Chandra Bhan Singh, Member (Technical)
CASE NUMBER
MA 1972/2019 In C.P. (IB)-2294(MB)/2018

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Judgment

5 paragraphs · 166 words
1.

The Learned Representatives for the Petitioner and RP is present.

2.

MA-3316/2019 – This is an Application for seeking an order under section 33 for initiation of liquidation. Learned Counsel and RP is present. matter discussed.

3.

Attention was drawn on 3rd COC meeting held on 19.09.2019 wherein it was resolved unanimously that in the absence of any Expression of Interest in this case Liquidation is the only option. Valuation for the purpose of liquidation already been completed to be placed on record by the RP. It is also been resolved that RP shall work as liquidator and in this regard, consent is on record.

4.

Since the Financial Creditors and the members of COC have approved and resolved for the commencement of liquidation therefore MA-3316/2019 is allowed. Liquidation Process shall be started.

5.

MA-1972/2019 is simply mentioning application for early hearing disposed of. The Liquidator shall inform the progress report of the liquidation by 09.12.2019 to place on record the progress of the liquidation.