There being no assets in the Company both tangible and intangible no purpose shall be served in insolvency resolution – Rosoboronservices (India) Ltd. – NCLAT New Delhi

The Adjudicating Authority had dismissed the application filed under Section 10 of the Code directing that there are no assets in the Company both tangible and intangible. In view of this, the bench advices the petitioner to go for voluntary liquidation of the company. NCLAT held that the Adjudicating Authority has observed in the order that there are no assets in the Company both tangible and intangible. We are of the view that there being no assets in the Company both tangible and intangible no purpose shall be served in insolvency resolution in the facts of the present case.

Scroll to Top