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TMI Blog2019 (10) TMI 178X X X X Extracts X X X X X X X X Extracts X X X X ..... rporate Debtor to be liquidated, in terms of the provisions of Section 33(1)(a) of the Code; 2) To issue a public announcement stating that the Corporate Debtor is in liquidation; 3) To direct that a copy of the order be sent to the Registrar of Companies at Ahmedabad; 4) To direct that pending hearing and final disposal of the present Application, till the pronouncement of the commencement of liquidation, (i) the moratorium in terms of Section 14 of the Code to continue till the pronouncement of the order of liquidation for the Corporate Debtor (ii) The RP shall continue its role as an RP of the Corporate Debtor, till the pronouncement of the order of liquidation for the Corporate Debtor by this Hon'ble Tribunal; 5) To pass an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er after the extension of time for submission of Expression of Interest no Resolution Plan received to revive the Company, thereby 180 days are also lapsed, as such an IA i.e. IA 197/2018 is filed by the RP under section 12 of the IB Code seeking for extension of time for CIRP by further 90 days. The said extension was granted by this Bench on 08.06.2018. 5. Meanwhile, the Committee of Creditors in its 10th meeting held on 29.08.2018 recorded that RP received no Resolution Plan from the potential Resolution Applicant, as such by way of majority of 90.61% of voting share the Committee of Creditors in its 11th meeting resolved to file liquidation application as post extension period of 90 days is also going to expire. Hence, the Committee of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ociates. The Resolution was approved by 90.61 % voting share in favour except Bank of India voted against the resolution at 9.39% of share in voting. 6. Seen the application as well as the documents annexed in the application and on hearing the Applicant, it is found that, it is a fit case to pass an order for liquidation which is pending since long as the CIRP has already been expired long back i.e. somewhere 16.09.2018. Since, Resolution does not reflect with regard to the appointment of Liquidator, the Adjudicating Authority hereby recommend the name of Mr. Sunil Kumar Agarwal, having IBBI Registration No. IBBI/IPA-001/IP-P01390/2018-2019/12178 from the Panel of Insolvency Professionals recommended for appointment as Liquidator for Co ..... X X X X Extracts X X X X X X X X Extracts X X X X
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