TMI Blog2020 (10) TMI 170X X X X Extracts X X X X X X X X Extracts X X X X ..... nue as the Liquidator and copy of Authorization for Assignment for and on behalf of Indian Institute of Insolvency Professionals of ICAI, along with this application, the Resolution Professional herein, Mr. Jasin Jose, is hereby appointed as Liquidator of the Corporate Debtor under Section 34 of IBC, 2016. Application disposed off. - I. A No. 129/KOB/2020 in TIBA/07/KOB/2019 - - - Dated:- 16-9-2020 - Shri Ashok Kumar Borah , Member ( Judicial ) For the Applicant : Shri CA Jasin Jose, Resolution Professional For the Respondent : No appearance ORDER This IA has been filed by the Resolution Professional under Section 33(2) of the IBC, 2016 with the following prayers: a) pass an order to Liquidate the company under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nly the Federal Bank submitted their claim and no other claim been received from allottees as they are unaware about the CIRP information. However, The Hon ble NCLAT again vide order in Company Appeal ( AT Insolvency) No. 1297 of 2019 dated 28.11.2019 directed not to constitute the Committee of Creditors (CoC) till further orders and to maintain the company as a going concern with the assistance of the Suspended Board of Directors. 5. Further to that as per the order dated 27.01.2020, the Company Appeal (AT Insolvency) No. 1297 of 2019, Hon ble NCLAT dismissed the petition favouring the financial creditor- Federal Bank. Thereafter, the CIRP was resumed from 07.02.2020 and the first CoC was held on 17.02.2020, where the CoC has resolved w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or compensation and obtained decree from NCDRC. d. No structure work is started and looks the project site as plain land, except for underground piling work. e. The company has got no other running projects except revenue from two shop rooms and out of it one shop room is vacated. f. The company has no other staffs except one office manager and one sweeper. g. The company has got no proper office premises with proper records (Rent agreements are not renewed, No electricity connection water connections in the name of company) and its functioning from the house of the Suspended director. h. One of the suspended directors Mr VA Rahim aged 73 years is managing day to day affairs of the company and other two directors are family m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... plan, intimates the Adjudicating Authority of the decision of the committee of creditors approved by not less than sixty-six percent of the voting share to liquidate the corporate debtor, the Adjudicating Authority shall pass a liquidation order as referred to in Sub-Clauses (i), (ii) and (iii) of clause (b) of Sub-Section (1). 8. I have heard the Resolution Professional who appeared through video conferencing and have also thoroughly perused the whole case records including the minutes of 4th CoC meeting held on 03.09.2020. In Item No.8- To take a decision on reissue of form G or any other matter: it is resolved that: COC with 77.92% (100% of Members Meeting attended) resolved not to reissue form G further, and not to go for fresh E ..... X X X X Extracts X X X X X X X X Extracts X X X X
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