NCLT Chandigarh orders liquidation of Aabha Industries after CIRP fails, appointing Rajesh Mehru as liquidator.
Tribunal directs Neel-Rattan Enterprises to vacate mortgaged factory premises, ruling arbitral award execution violates moratorium.
Committee of Creditors rejected the sole resolution plan and approved liquidation costs of ₹10.35 lakhs for the process.
The tribunal asserts jurisdiction under IBC Section 60(5), overriding arbitration proceedings to protect corporate debtor assets.