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2020 (2) TMI 1003 - AT - Companies LawLiquidation of Corporate Debtor - Resolution Professional failed to complete the CIRP process within the time - HELD THAT:- The Adjudicating Authority has no jurisdiction to decide any allegations either against the 'Resolution Professional' or the Liquidator. Though if any act of the 'Resolution Professional' or the Liquidator, against the provisions of the 'I&B Code', is noticed then the matter is to be referred to the Insolvency and Bankruptcy Board of India. This apart, in absence of any evidence to find that there was an undervaluation and there was a certain loss caused to the value of assets of the 'Corporate Debtor' by not protecting or not handing over the Germ Plasm/parent seeds, the auction purchaser has been rightly directed to pay the difference amount of ₹ 31 lakhs to the Liquidation Account of the 'Corporate Debtor' which he had agreed - The 6th Respondent- Mr. Kiran Gubba, has been rightly directed to make good the loss caused to the 'Corporate Debtor' by dumping Germ Plasm/Parent seed by paying the value of the same. Application dismissed.
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