Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + Tri Insolvency and Bankruptcy - 2019 (5) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (5) TMI 1910 - NATIONAL COMPANY LAW TRIBUNAL, KOLKATA BENCHLiquidation of Corporate Debtor - section 33 of 1&B Code - HELD THAT:- CIRP period of 180 days completed on 28.01.2019. IRP requsted this authority to give extension of 90 days as per section 12(2) of the IBC. However, his request was not supported by the CoC. CoC did not pass such resolution. Hence, his request was turned down. This authority made enquiry with the IRP whether he received any resolution plan but IRP submitted that there was no response from anybody. None has submitted even Eol - there is dispute going on about the assets of the corporate debtor, i.e. residential flat. Some parties filed title suit in the Civil Court at Alipore. This may be the reason that none submitted the plan. Be that as it may, no resolution plan is received by IRP and the CoC. Although, one M/s. Hotel Polo Torner Development has submitted Eol but no plan is received from them within 180 days. It appears from record that during CIRP, the IRP held eight CoC meetings. The CoC did not confirm his appointment as RP. The insolvency of the corporate debtor could not be resolved for want of resolution plan. CIRP period is already over. Hence, this authority has left with no option but to pass order of liquidation of the corporate debtor under section 33 of 1&B Code. Hence, proceed to pass an order requiring the Corporate Debtor to be liquidated in the manner as laid down in the Chapter III of Part II of I&B Code. Corporate Debtor- M/s.RLA Holdings Private Limited is liquidated - Application allowed.
|