TaxTMI 
TaxTMI 
2022 (4) TMI 523
X X X X Extracts X X X X
X X X X Extracts X X X X
....Sumit Parikh, Learned Counsel and Dhruvi Parikh ORDER Kaushalendra Kumar Singh, Member (T) 1. The instant Application is filed by Mr. Amrish Navinchandra Gandhi, Liquidator of M/s. Drup Suppliers Pvt. Ltd. (for brevity 'Corporate Debtor') under Section 54 of the Insolvency and Bankruptcy Code, 2016 (for brevity 'Code') read with Regulation 45 of the Insolvency and Bankruptcy Boa....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... before expiry of 180 days of CIRP as there were no assets available in the corporate debtor. The CoC was also informed that there are only loans and advances including bank balance in the nature of current assets for an amount of Rs. 72,236/-. The CoC was of opinion that there seems no possibility to revive corporate debtor and the only option available is to seek liquidation. Hence, the Applican....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... no liquidation estate was incorporated. The CIRP cost is Rs. 81,562/- and the liquidation cost is Rs. 99,530/-. The liquidation costs and CIRP costs were paid fully by the financial creditor. g) Having satisfied that no assets were found during the CIRP and liquidation process for recovery of dues of the Stakeholders, nothing would remain in the Liquidation Process of the Corporate Debtor, to p....