TMI Blog2017 (9) TMI 1616X X X X Extracts X X X X X X X X Extracts X X X X ..... this appointment, the powers of the Board of Directors shall stand suspended and the management of the affairs shall vest with the Interim Resolution Professional and the officers and the managers of the ‘Corporate Debtor’ shall report to the Interim Resolution Professional, who shall be enjoined to exercise all the powers as are vested with Interim Resolution Professional and strictly perform all the duties as are enjoined on the Interim Resolution Professional under Section 18 and other relevant provisions of the ‘Code’, including taking control and custody of the assets over which the ‘Corporate Debtor’ has ownership rights recorded in the balance sheet of the ‘Corporate Debtor’ etc. as provided in Section 18 (1) (f) of the ‘Code’. The I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... IPN00088/ 2017-18/10229, resident of 236-L, Model Town, Sonipat-131001, email: harishtaneja78@gmail.com; Mobile No.9811565629 as Interim Resolution Professional; (ii) The term of appointment of Mr. Harish Taneja shall be for a period of 30 days from the date of his appointment as Interim Resolution Professional or as may be determined by the committee of creditors whichever is earlier; (iii) In terms of Section 17 of the Code , from the date of this appointment, the powers of the Board of Directors shall stand suspended and the management of the affairs shall vest with the Interim Resolution Professional and the officers and the managers of the Corporate Debtor shall report to the Interim Resolution Professional, who shall be enjoi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment within three days as contemplated under Regulation 6 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 of the initiation of the Corporate Insolvency Resolution Process in terms of Section 13 (1) (b) of the Code read with Section 15 calling for the submission of claims against Corporate Debtor and (vii) As required under Rule 27 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, the Interim Insolvency Resolution Professional shall within seven days from today, appoint two registered valuers to determine the liquidation value of the Corporate Debtor in terms of Regulation 35. 3. It is furth ..... X X X X Extracts X X X X X X X X Extracts X X X X
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