The National Company Law Tribunal Ahmedabad bench on Monday admitted the cab hailing platform BluSmart Mobility into insolvency on a plea filed by Catalyst Trusteeship for a default of over Rs 1.28 crore.
Additionally, The Interim Resolution Professional appointed by the NCLT for BluSmart Mobility is NPV Insolvency Professionals Private Limited.
The financial creditor has been directed to pay an advance of Rs 10 lakh to meet the initial costs of the process. This amount will be adjusted against the final fees and expenses approved by the Committee of Creditors.
The IRP is expected to take control of all assets and records of the company within seven days of the order. If necessary, the IRP can seek help from the police, and the tribunal…