- (1.) The Applicant / Resolution Professional Mr. Arun Kumar Malani, has filed the aforesaid C.A.No.168 of 2017 under Section 33(1) , 33(2) and 34(1) of Insolvency and Bankruptcy Code, 2016 seeking the following reliefs: a) to pass the order under Section 33(1) , 33(2) of the Code for Liquidation and also pass under Section 34 (1) of the Code for appointment of Liquidator and b) to pass such further or other orders as this Hon'ble Authority may deem fit and proper BRIEF FACTS OF THE CORPORATE DEBTOR:
(2.) The Company namely M/s. Blossoms Oils & Fats Limited was incorporated as a Limited Company on 20-08-1998, main business is market its finished products (i.e. RBD palmolien) under the brand name of "POSHAK" besides selling a large chunk in bulk in tankers and it covers the states of Puducherry, Karnataka, Tamilnadu and Maharastra besides the state of erstwhile Andhra Pradesh.
(3.) The refinery unit of the Company was established at Yanam near Kakinada in the Union Territory of Puducherry. The unit commenced commercial production during the year 2002 with a capacity of 75 tonnes per day.;