TMI Blog2019 (12) TMI 394X X X X Extracts X X X X X X X X Extracts X X X X ..... nd in the absence of any resolution plan there is no other alternative but to order in conformity with the majority decision of the Committee of Creditors, for liquidation of the corporate debtor under Section 33 of the Code. The application is allowed by ordering liquidation of the corporate debtor, namely M/s. Mohan Gems and Jewels Private Limited in the manner laid down in the Chapter III of Part II of the Insolvency and Bankruptcy Code, 2016 with certain directions. - C.A. NO. 1406(PB) OF 2019, Company Petition (IB) No. 590 (PB) OF 2018 - - - Dated:- 9-8-2019 - M.M.Kumar, President And S.K. Mohapatra, Technical Member S.K. Sharma, Adv. for the Applicant. Brijesh Kr. Tamber and Vinay Singh Bist, Advs. for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... struction Private Limited. 4. In the first meeting of Committee of Creditors convened on 23.10.2018 the Interim Resolution Professional was appointed as the Resolution Professional to conduct Corporate Insolvency Resolution Process in respect of the corporate debtor. 5. The Resolution Professional in accordance with Regulation 27 read with Regulation 35 appointed two registered valuers for conducting valuation of assets of the corporate debtor. 6. It is pertinent to mention here that this Bench vide order dated 29.03.2019 allowed the prayer for extension of CIRP by further 90 days under section 12(3) of the Code. 7. It has been submitted in the application that despite several advertisements inviting Expr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sue 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 the Insolvency and Bankruptcy Board of India; d. The Order of Moratorium passed under Section 14 of the Insolvency and Bankruptcy Code, 2016 shall cease to have its effect and that a fresh Moratorium under Section 33(5) of the Insolvency and Bankruptcy Code shall commence; e. All endeavour shall be made by the liquidator to ensure that the business of Corporate Debtor is continued during the liquidation process a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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