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2019 (11) TMI 442

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..... application for initiation of liquidation before this Adjudicating Authority, as the, EOI received from M/s. Freight Connection India Pvt. Ltd., Mumbai to purchase the said asset for an amount of ₹ 17.51 lakhs could not materialize and no realisations made therefrom. It is further stated that there are three major disputed receivables for which litigation is going on. However, in the opinio .....

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..... n terms and conditions approved by the COC in its meeting held on 20.06.2018. The Liquidator shall send an intimation to the Registrar of Companies with which the Corporate Debtor is registered - application disposed off. - IA No. 172 of 2019 in C.P. (IB) No. 137/NCLT/AHM/2017 - Dated:- 4-6-2019 - MS. MANORAMA KUMARI, MEMBER (J) For The Applicant : CA Sachin Joshi ORDER 1). This application is fil .....

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..... dating the affairs of the Corporate Debtor in discharging his function as specified under section 35 of the IBC. 2). This Authority, vide order dated 22.12.2017 on the basis of petition filed by Shri Sunil Sunderlal Luhar, Director of M/s. Gaytech Engineering (hereinafter referred to as the Corporate Applicant) under Section 10 of the IBC, commenced the CIRP by appointing IRP. The Corporate Applic .....

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..... gations are uncertain and may take longer time. Thus, in the above scenario revival of the Corporate Debtor is not in sight at present. 4). It is therefore stated that the CoC also resolved that RP CA Vinod Pahelwani shall act as a Liquidator for the purpose of liquidation unless replaced by this Adjudicating Authority. The said fact is reflected in the minutes of the CoC meeting held on 20.06.201 .....

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