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TMI Blog2019 (12) TMI 394X X X X Extracts X X X X X X X X Extracts X X X X ..... t. Brijesh Kr. Tamber and Vinay Singh Bist, Advs. for the Respondent. ORDER S.K. Mohapatra, This is an application filed by the Resolution Professional under Section 33(2) of Insolvency and Bankruptcy Code, 2016 (hereinafter referred as the "Code") for issuance of directions for liquidation of the corporate debtor, M/s. Mohan Gems and Jewels Private Limited. 2. The facts in brief are that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reditors of the corporate debtor. On receipt and verification of claims and in compliance of Section 21 of the Code read with Regulation 17 of the CIRP Regulations, CoC was constituted with four financial creditors namely Bank of India, Bank of Baroda, Corporation Bank and Invent Assets Securitization & Reconstruction Private Limited. 4. In the first meeting of Committee of Creditors convened on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ly, in the 9th CoC meeting held on 20.06.2019 the CoC with 86.07% voting share passed resolution for Liquidation of the corporate debtor under Section 33(2) of the Code. It is pertinent to mention here that the applicant RP has given his consent to act as Liquidator in requisite Form AA on 20.06.2019. 8. In the facts and upon failure of resolution process there being no resolution plan and also o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... quidator in terms of Section 34(1) of the Code. b. Mr. Debashis Nanda, is directed to issue Public Announcement stating that the corporate debtor is in liquidation, in terms of Regulation 12 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016; c. The Registry is directed to communicate this Order to the Registrar of Companies, NCT of Delhi & Haryana and to t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... accordance with provisions of Section 35(1) of the Code. h. The liquidator shall also follow up the pending suit/applications for its disposal during the process of liquidation including initiation of steps for recovery of dues of the Corporate Debtor. i. The Liquidator shall submit a Preliminary Report to the Adjudicating Authority within seventy five days from the liquidation commencement da ..... X X X X Extracts X X X X X X X X Extracts X X X X
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