9911796707
TMI Blog2019 (3) TMI 1797X X X X Extracts X X X X X X X X Extracts X X X X ..... r issuance of directions for liquidation of the corporate debtor, M/S Ram Dev International Limited. 2. The facts in brief are that one of the operational creditors, M/S Mussadi Lal Kishan Lal had filed an application bearing Company Application no. IB -178 (PB)/ 2017 under Section 9 of the Code, for initiation of CIRP in respect of the corporate debtor, M/S Ram Dev International Limited. The application was admitted by this tribunal vide order dated 08.02.2018 and Sh. Rakesh Kumar Jain was appointed as Interim Resolution Professional (IRP). 3. It is stated that in accordance with the provisions of the Code, the IRP made public announcements in relation to the Company asking the public for lodging claims against the Company. In response t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ue, the Resolution Professional would approach Hon'ble NCLT for appropriate direction/ instructions in this regard. " 8. In the 11th COC meeting held on 17.10.2018 name of Mr. Prabhjit Singh Soni having registration number IBBI/IPA- 002/ IP-N00065/ 2017-18/ 10143 was proposed by COC for appointment as a liquidator in respect of corporate debtor. Mr. Prabhjit Singh Soni has given its written consent to act as a liquidator. The written consent has been placed on record. 9. In the factual background and in the absence of any resolution plan and for want of time beyond statutory CIRP period; there is no other alternative but to order in conformity with the majority decision of the COC for liquidation of the corporate debtor under Section ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... from the case record that there is a need to identify and recover the assets of corporate debtor stated to have lost in irregular transactions. Accordingly, the liquidator is directed to follow up and continue to investigate the financial affairs of the Corporate Debtor in accordance with law. h. It is further seen that several company applications filed by resolution professional are pending consideration. The liquidator shall follow up the pending applications for its disposal during the process of liquidation. i. The Liquidator shall also submit a Preliminary Report to the Adjudicating Authority within seventy-five days from the liquidation commencement date as per Regulation 13 of the Insolvency and Bankruptcy (Liquidation Process) ..... X X X X Extracts X X X X X X X X Extracts X X X X
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