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Judgment
IA-973/2023: This application has been filed under Section 54 of the IBC, 2016 by the Liquidator seeking dissolution of the company.
While going through the record, we find that vide order dated 25.11.2022 in IA-5761/2022, the Liquidator sought our permission for sale of sundry receivables of the CD to one Mr. Bala Subrahmanyam at an amount of Rs.25,500/- only as private sale for the assets, which were valuing Rs.14,22,110/-. Since, a huge reduction in value was noticed, permission for sale was not granted and the Liquidator was directed to undertake a proper publication of the sundry receivables identified for sale in two nationalised newspapers having wide circulation and file the affidavit of compliance within 15 days. Further, vide order dated 23.01.2023, we had asked the Liquidator to file an inventory of the articles sought to be disposed of along with the price offered for the same in the tender.
The said affidavits are not available on record/DMS. Let the Liquidator now file a single self-contained affidavit of all the sundry receivables along with their estimated value and the value received in the tender, within 7 days. Also, he should point out if there are other amounts locked up in any of the applications preferred for avoidance/fraudulent transactions. He is also directed to file a list of the pending investigation and inquiries against the CD, if any. The affidavit should be filed within one week.
Copy of this order be sent to the IBBI.
List on 02.03.2023.