TMI Blog2019 (12) TMI 562X X X X Extracts X X X X X X X X Extracts X X X X ..... . 69/JPR/2019, IB 570 (PB) OF 2017, IA NO. 45 OF 2018 - - - Dated:- 23-9-2019 - Dr. Poondla Bhaskara Mohan, Judicial Member And Raghu Nayyar, Technical Member Amol Vyas, Adv. for the Applicant. Rajendra K. Salecha and Tanisha Khudchandani, Advs. for the Respondent. ORDER 1. The instant Application IA/69/JPR/2019, is filed by the Resolution Professional under Sections 33 and 34 of the Insolvency and Bankruptcy Code, 2016 (for brevity 'IBC, 2016') for initiation of Liquidation Proceedings against M/s. Seatel Electronics (India) Private Limited, (for brevity 'Corporate Debtor'). 2. Earlier, an Application under Section 10 of the IBC, 2016, was filed by the Corporate Deb ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Code, 2016, consent of the member of the committee of creditor of the corporate debtor be and are hereby accorded to liquidate the corporate debtor and authorise Mr. Satyendra Prasad Khorania, resolution professional for the filing the application for the liquidation of the corporate debtor before the adjudicating authority.'' 6. It is further seen that the RP had also filed Application vide IA No. 20/JPR/2019, against one Mr. Pankaj Sharma and others and prayed to declare certain transactions as preferential transactions under Section 43 of the IBC, 2016. 7. IA No. 21/JPR/2019, was also filed by the RP under Section 45 of the IBC, 2016, wherein it was prayed to declare certain transactions as undervalued. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t 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, Jaipur and to the Insolvency and Bankruptcy Board of India; d. In terms of section 178 of the Income-tax Act, 1961, the Liquidator shall give necessary intimation to the Income Tax Department. Similarly, in relation to other fiscal and regulatory authorities which govern the Corporate Debtor, the Liquidator shall also duly intimate about the order of liquidation; e. The Order of Moratorium passed under Section 14 of the IBC, 2016; shall cease to have its effect an ..... X X X X Extracts X X X X X X X X Extracts X X X X
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