Only the Liquidator is empowered to make an application to Adjudicating Authority for the dissolution of a Corporate Debtor – Janak Jagivan Shah RP of Rainbow Infrabuild Pvt. Ltd. – NCLT Ahmedabad Bench
Hon’ble NCLT Ahmedabad Bench held that upon a comprehensive examination of Regulation 14 of the IBBI (Liquidation Process) Regulations and Section 54 of the IBC, this Tribunal observes that “only the Liquidator” is empowered to make an application to the Adjudicating Authority for the dissolution of a Corporate Debtor. As the liquidation process has not yet commenced in this matter, there is no specific provision that authorizes an early dissolution prior to the initiation of liquidation. No order for liquidation has been passed by this Tribunal to date. Consequently, there is no Liquidator or any authorized person in the capacity of the Liquidator who can file the said compliance certificate.