In af recent case, the National Company Law Tribunal (NCLT) on finding that the IRP has faced resistance from suspended management and the non-cooperation from the members of CoC, and directed the members to corporate with the Liquidator.
The application has been filed by the Interim Resolution Professional (IRP) acting as Resolution Professional (RP), seeking orders for Liquidation of the Corporate Debtor (CD) Neocortex Life Sciences Private Limited. The CD was admitted into Corporate Insolvency Resolution Process (CIRP) under Section 10 of IBC vide Order of this Tribunal dated 13.02.2024 in CP (IB) No. 186/10/HDB/2023, and the Applicant herein was appointed as Interim Resolution Professional (IRP). Subsequently, the IRP made public…