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2022 (4) TMI 1365 - Tri - Insolvency and BankruptcyPreferential Transaction and relevant time - undervalued and fraudulent transactions - sale of inventory was entered into with the related parties at a price lower than the book value which clearly demonstrates the intent of the Corporate Debtor, or not - HELD THAT:- On perusal of the records, it is seen that the Liquidator has not entered appearance since 09 August 2021. Thereafter, the IA was listed on three dates i.e., on 01 November 2021, 12 January 2022 and 25 February 2022. Court notice had also been sent to the Liquidator, the Counsel for the Liquidator, and the Respondents on 18 January 2022. The notices have been duly delivered, yet neither did the Liquidator appear on 25 February 2022 nor did the Counsel appointed by the Liquidator appear. The Liquidator should not expect that applications filed by him will be given due consideration even if he, as applicant, does not choose to appear. There are no reason to treat the Liquidator differently from other applicants whose applications will meet the same fate if they choose not to appear on multiple occasions. The application is dismissed for non-prosecution.
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