TMI Blog2019 (1) TMI 1776X X X X Extracts X X X X X X X X Extracts X X X X ..... Committee of Creditors; (iii) The moratorium declared under Section 14 of the I B Code, 2016, shall cease to have effect from the date of this order of liquidation; (iv) Copy of this Order shall be sent to the Registrar of Companies, RD, OL and the Registered Office of the Corporate Debtor. Application allowed. - MA NO. 11/IB/2019, CP(IB) NO. 610/CB/2017 - - - Dated:- 22-1-2019 - B.S.V. Prakash Kumar, Judicial Member And S. Vijayaraghavan, Technical Member For the Applicant : Jayanth Viswanathan, PCS and L.V.S. Shayam Sunder, PCS ORDER S. VIJAYARAGHAVAN, TECHNICAL MEMBER. 1. Under reference is a Miscellaneous Application filed before this Adjudicating Authority by Mr. Mohan Kumar Resolution Professional f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent was given in Business Standard (English Edition) and Maalai Thamizhagam (Tamil Edition) on 11.08.2018 and the last date for receipt of duly filled in Expression of Interest in the EoI format was 29.05.2018 and the last date for submission of the resolution plans by eligible resolution applicants fulfilling requirements as per IBC was 26.08.2018. The advertisement did not elicit any response and no resolution applicant evinced interest to take over the assets of the Corporate Debtor. 6. It was submitted that the CIRP would expire on 11.08.2018. In the CoC held on 11.10.2018 it was unanimously agreed that there was no scope of getting any resolution plan considering the non-availability of infrastructure including land, building an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s; (iii) The moratorium declared under Section 14 of the I B Code, 2016, shall cease to have effect from the date of this order of liquidation; (iv) Copy of this Order shall be sent to the Registrar of Companies, RD, OL and the Registered Office of the Corporate Debtor. (v) As stated in Section 33(5) of the I B Code 2016, subject to Section 52, no suit or other legal proceedings shall be instituted by/or against the Corporate Debtor. However, a suit and other legal proceedings maybe instituted by the Liquidator, on behalf of the Corporate Debtor, with the prior approval of this Authority. (vi) We make it clear that para (v) hereinabove shall not apply to legal proceedings in relation to such transactions as notified by the Centr ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
