NCLT orders liquidation after CoC backs it, rejects CIRP extension
In short
The NCLT ordered liquidation after the committee of creditors unanimously approved liquidation and did not approve any resolution plan. It also rejected an extension of the CIRP and noted a ₹120.17 crore fall in assets.
This means the company moves toward liquidation instead of a rescue plan. The available reporting does not say more about the debtor or what happens next.
What the reporting says
The NCLT ordered liquidation after the committee of creditors unanimously approved that route and rejected an extension of the CIRP. The publisher summary also says no resolution plan was approved for the corporate debtor, and the order highlights a ₹120.17 crore decline in assets. What remains unclear from the available reporting is the wider company context and any next-step outcome beyond liquidation.
Why it matters
The NCLT ordered liquidation for the corporate debtor after the committee of creditors unanimously approved that option and no resolution plan was approved. The order also noted a ₹120.17 crore decline in assets and rejected a CIRP extension. The available reporting does not identify the debtor in the snippet, so the broader business impact is not stated.