TMI Blog2020 (4) TMI 733X X X X Extracts X X X X X X X X Extracts X X X X ..... te the Corporate Debtor under section 33(3) of the Code by directing the erstwhile Resolution Professional (RP) namely, Mr. Chandramouli Ramasubramaniam looking at the written consent given by him, to act as the Liquidator of the Corporate Debtor for the purpose of liquidation of this Corporate Debtor. The Liquidation of Corporate Debtor is ordered in the manner as laid down in the Chapter by issuing a public notice stating that the Corporate Debtor is in liquidation with a direction to the liquidator to send this order to ROC with which this company has been registered. The Registry is hereby directed to immediately communicate this order to the Liquidator, the Corporate Debtor, the IBBI and Concerned ROC by way of e-mail - applicati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by this Financial Creditor counsel that the Resolution Applicant in the plan has also committed to bring in working capital for a total amount of ₹ 4 Crores by means of fresh infusion on its own but whereas, instead of bringing the money as stated in the plan, these Promoter-Directors had brought only ₹ 80 Lakhs subsequent to the approval of the Resolution Plan. This Applicant/Financial Creditor has further stated that this Resolution Applicant was supposed to bring in ₹ 4 Crores as fresh infusion within three months from the date of approval of the Resolution Plan but as against this, he has brought only ₹ 80 Lakhs, thereafter, he has not complied with any of the other compliances set out in the Resolution Plan. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the aforesaid reasons, we hereby order for liquidation of the Corporate Debtor with the following directions: (a) This Bench hereby orders the Corporate Debtor to be liquidated in the manner as laid down in the Chapter by issuing a public notice stating that the Corporate Debtor is in liquidation with a direction to the liquidator to send this order to ROC with which this company has been registered. (b) The Resolution professional viz Mr. Chandramouli Ramasubramaniam 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 shall be ..... X X X X Extracts X X X X X X X X Extracts X X X X
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