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Indiabulls Housing Finance Ltd vs Neeru Cotton Pvt Ltd

National Company Law Tribunal · Decided on 20 October 2021 · Citation: (2021) 10 NCLT CK 0060

HON’BLE JUDGES
Madan B. Gosavi, Member (J) · Ajai Das Mehrotra, Member (T)
RESULT
Allowed/Disposed Of
CASE NUMBER
IA/667, 681(AHM)2021 in CP(IB) 7 of 2018
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Judgment

5 paragraphs · 109 words

IA/667(AHM)2021

This application is filed by Liquidator for extension of period of liquidation by 6 months. We heard learned counsel. Some assets of the Corporate Debtor are yet to be recovered from third party at page No. 24, stakeholder's committee was consulted and approved the extension, hence, period of liquidation stands extended for 6 months from today.

Accordingly, IA/667(AHM)2021 is allowed and stands disposed of.

IA/681(AHM)2021

This application is filed by liquidator under Section 35(b) of IBC, 2016. We direct liquidator to take in custody and control assets, property and actionable claim of the Corporate Debtor. This application is allowed in terms of prayer 4(b) and stands disposed of.