AI Structured Summary
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Judgment
This application has been filed seeking dissolution of the Corporate Debtor. However, on Page No. 25, the applicant has made the following as by way of Prayer-C:-
"Your Lordships may be pleased to pass appropriate directions for pending recovery of claim from debtor Neesa Leisure Limited in IA No. 851 of 2020."
During the hearing, learned counsel for the Applicant states that there is a possibility of certain amounts being realised from Neesa Leisure Limited which is an associate/sister concern of the Corporate Debtor. It was further stated that the resolution plan with respect to the said company Neesa Leisure Limited has been rejected and already appealed before the Hon'ble NCLAT. It was submission of the learned counsel for the applicant that there is a possibility of the amounts being realised in the CIRP or Liquidation Process of the said company.
From the submissions of the learned counsel for the applicant it appears to us that the affairs of the company have not been fully wound up liquidated. In view of the same, the present application qua the dissolution of the Corporate Debtor is pre- mature and is hereby dismissed.