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Judgment
I.A.Nos.30 & 53/2025:
I.A.Nos.30 & 53/2025 are Quarter Progress Reports submitted by the Liquidator for the period from 03.09.2024 to 31.12.2024 and 01.01.2025 to 31.03.2025.
Record perused. The same are taken on record.
Accordingly, I.A.Nos.30 & 53/2025 are disposed of.
I.A. (IBC) No.248/2025:
This Application has been filed by the Applicant seeking directions to sell the assets of the Corporate Debtor through a private sale process, as recommended by SCC. It has been informed that, pursuant to the auction notice issued in the newspaper none had come forward to bid. Therefore, they may be allowed to be disposed of by private sale by keeping their reserved price as per the valuation report.
In order to save the value of assets of the Corporate Debtor and to prevent further deterioration, the I.A. is allowed.
I.A.No.282/2025:
Heard the Ld. Counsel appearing for the Applicant.
Ld. Counsel for the Liquidator accepts notice and seeks time to file reply. Therefore, three weeks' time is granted to the Liquidator to file reply and one week's thereafter is granted to the Applicant to file rejoinder, if any, after duly serving a copy on the other side.
List the case on 11.07.2025.