NCLT orders liquidation of Shri Tradco Deesan Pvt Ltd after CIRP period of 741 days expired without a successful resolution plan.
Committee of Creditors rejected a final 30-day extension with 69.25% voting against the proposal led by State Bank of India.
Two resolution plans were received but Potential Resolution Applicants failed to provide requisite addendums as required by the CoC.
Mr. Akhil Ahuja is appointed as the Liquidator to manage the process under the Insolvency and Bankruptcy Code, 2016.