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Judgment
IA No. 1362/2023
The present application has been filed under Regulation 44(2) of the IBBI (Liquidation Process) Regulations, 2016 seeking extension of liquidation process beyond one year after 09.05.2022. It is stated that one of the assets of the company is to be sold through private sale. Now the title of the said property is confirmed which was not confirmed earlier. The application is supported by an affidavit. Keeping in view the facts and circumstances mentioned in the application, the present application i.e. IA No. 1362/2023 is allowed and it is extended for the period of one year w.e.f. 09.05.2023. The Liquidator is directed to utilize this extended time effectively and efficiently so that the liquidation process is completed within the extended time. Thus, IA No. 1362/2023 is disposed of accordingly.
IA No. 1843/2023
This application has been filed for placing on record the Progress Report for the quarter ended on 30.06.2022. The same is taken on record subject to just exceptions. Thus, IA No. 1843/2023 is disposed of accordingly.