Authority: National Company Law Tribunal, Division Bench, Court - 1, Ahmedabad
Order Date: 17/06/2026
Case Overview
The application was filed by the Liquidator under Section 35(1)(n) of the Insolvency and Bankruptcy Code, 2016 read with Regulation 45(3)(a) of the IBBI (Liquidation Process) Regulations, 2016. The matter concerned the corporate debtor, Camerich Papers Private Limited, in C.P. (I.B.) No. 83 of 2023. The application sought closure of the liquidation process following the successful sale of the corporate debtor as a going concern and requested the tribunal to take on record the Final Report and Compliance Certificate in Form-H.
The tribunal heard learned counsel for the Applicant/Liquidator and the Auction Purchaser. The no-objection reply from the Successful Auction Purchaser, along with the Final Report and Compliance Certificate in Form-H, were taken on record.
Final Outcome
The NCLT allowed the application and ordered the closure of the liquidation process of Camerich Papers Private Limited. The Liquidator is permitted to retain Rs. 13,36,031.28 as a contingency reserve, which must be invested in a Fixed Deposit for six months to meet any pending liabilities, claims, or litigation. If no such liabilities materialize, this amount along with accrued interest is to be distributed amongst the stakeholders as per Section 53 of the Code. The Liquidator is exempted from filing any further quarterly progress reports under Regulation 15 of the Liquidation Regulations and is relieved from his duties. The Successful Auction Purchaser is directed to extend all necessary cooperation for the completion of any consequential compliances.
Topics: Insolvency Resolution, Liquidation Closure, NCLT Order