ROHENDRA SINGH Vs. WEGILANT SOLUTIONS PVT LTD

JUDGEMENT

(1.) Cpno.(Ib) 60/ALD/2017 " In the present matter the Resolution Professional (RP) earlier has recommended for liquidation of the Corporate Debtor Company because of not getting success in bringing a resolution plan for the company under the C1RP.

(2.) It is further reported by the Financial Creditor/single member Committee of Creditor through its letter dated 11.02.2017 thai it does not intend to bear any financial burden or liability to formulate a resolution plan for the Corporate Debtor Company.

(3.) By taking into consideration these circumstances, there seems no possibility for a resolution for the company under CIRP. Further, the Committee of Creditors is consulted with its single member M/s. Quick Meal Ltd. who did not agree for a resolution plan for the Corporate Debtor Company. Therefore, this Court is inclined to accept the recommendation made by the RP for liquidation of the Corporate Debtor Company.