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Judgment
2 paragraphs · 102 words
Heard the submission made by the Resolution Professional Mr. Vineet Aggarwal and it appears that no resolution plan has been furnished by the prospective bidders despite best efforts by the Resolution Professional and the CoC has also resolved for company to go into liquidation. The present application under section 33(2) of the Insolvency & Bankruptcy Code for appropriate direction to be passed for Liquidation of the Corporate Debtor is allowed and Mr. Vineet Aggarwal is appointed as Liquidator. The Liquidator is directed to file a report after four weeks informing the developments of the matters to the Tribunal.
The application is allowed.