GB Global announced that the National Company Law Tribunal (NCLT), Mumbai Bench vide its Order dated 05 December 2019, the certified copy of which was issued on 12 December 2019 and received by the Company on 13 December 2019, has directed the successful Resolution Applicant, Formation Textiles LLC, to hand over the possession of the Company to the Committee of Creditors (COC) and ordered the restoration of CIRP (Corporate Insolvency Resolution Process) and erstwhile Resolution Professional (RP) shall continue as RP henceforth.
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