2022 (8) TMI 995

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....rate Debtor') under Section 54(1) of Insolvency and Bankruptcy Code, 2016 (the 'Code'/'IBC') read with Rule 11 of National Company Law Tribunal Rules, 2016 ('NCLT Rules') and Regulations 45(3)(b) of Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 ('Liquidation Regulations') seeking directions for early dissolution of the Company. 2. The Adjudicating Authority vide Order dated 11.10.2019 admitted the Application under Section 9 of the IBC, filed by the M/s. Eltech Electro-Controls Private Limited ('Operational Creditor') against the Corporate Debtor in the matter mentioned above. Since no Resolution Plan was received by the Resolution Professional, the Committee ....

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....uidator can approach the Adjudicating Authority for early dissolution of the Corporate Debtor in certain specified circumstances. The Application for the dissolution of the Corporate Debtor has been moved under proper norms, and in compliance with the directions of this Adjudicating Authority, a final report and Form-H have also been attached in the instant Application. Furthermore, no further investigation is required into the affairs of the Corporate Debtor, and if the liquidation process continues, it may result in an increase in cost that cannot be compensated with liquidation cost. 5. This Adjudicating Authority has perused all the relevant papers and found them in Order. The Registered Office of the Respondent is situated in Bhiwad....