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2019 (10) TMI 417

..... an, the CoC could not get any opportunity to approve the resolution plan, therefore the CoC finally passed unanimous resolution on 20.06.2019 for liquidation of this Corporate Debtor. The Applicant (RP) herein placed this application annexing the resolution passed by the CoC on 20.06.2019 with 100% voting suggesting the same Resolution Professional’s name to continue as Liquidator of the Cor .....

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..... lue, the present Applicant Mr. A. R. Ramasubramania Raja who was subsequently appointed as Resolution Professional in the place of IRP taking the aggregate of the values given by the valuers, the RP determined the liquidation value as ₹ 31 Crores as against the claim of ₹ 80 Crores. 3. When no Resolution Applicant came forward with a viable and feasible resolution plan, the CoC could n .....

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..... ator to send this order to ROC with which this company has been registered. b) The Resolution Professional viz Mr. A.R Ramasubramania Raja is hereby appointed to act as Liquidator for the purpose of liquidation of the corporate debtor, therefore all powers of the board of directors, Key managerial personnel and partners of the Corporate Debtor, as the case may be, shall cease to have effect and sh .....

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..... uthority save and except as mentioned in sub-section 6 of section 33 of the Code. d) This liquidation order shall be deemed to be notice of discharge to the officers, employees and workmen of the Corporate Debtor except to extent of the business of the Corporate Debtor is continued during the liquidation process by the Liquidator. e) The liquidator is directed to carry the functions of the Liquida .....

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