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Judgment
Applicant is represented by Ld. Counsel Mr. B. Dhanaraj through video conferencing mode.
This Application has been filed seeking extension for Liquidation of the Corporate Debtor by 180 days from 10.06.2023 till 06.12.2023.
It is stated that one Asset of the Corporate Debtor {Factory Land measuring 13.64 Acres in Unit 4 Plot R1, in Thuvakudi industrial Estate, Thuvakudi} is pending Sale and Realisation by the Applicant Liquidator. The E-auction was conducted, but no bidder came.
It is stated that the sale of the land would have a huge impact on the realization and distribution of Funds to the Stakeholders.
Having considered the submissions, the liquidation period is extended till 06.12.2023.
Accordingly, IA(IBC)/1040(CHE)2023 stands disposed off.