TMI Blog2020 (10) TMI 218X X X X Extracts X X X X X X X X Extracts X X X X ..... rporate Debtor namely, M/s. Pawan Buildwell Private Limited is ordered in the manner as laid down in Chapter III of Part II of the Insolvency and Bankruptcy Code, 2016 - application allowed. - C.A. 965/C-II/ND/2019 in Company Petition No. (IB)-197(ND)/2018 - - - Dated:- 5-2-2020 - Ina Malhotra, Member (J) And L.N. Gupta, Member (T) For the Appellant : Kriti Krishanan For the Respondent : Arun Khatri, Advocates JUDGMENT L. N. Gupta, Member (T) 1. This is an application filed by the Resolution Professional under Sections 33(1)(a) and 33(2) of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred as the Code ) for seeking the following reliefs: (a) Initiate Liquidation process of the Corporate Debtor i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Committee of Creditors (CoC), which comprise of only one Financial Creditor, namely Sh. Brij Mohan Sahni. 5. It is submitted by the Resolution Professional that only two claims were received, one from the Financial Creditor Mr. Brij Mohan Sahni and the other one from M/s. Bajaj Finance Limited. The claim of M/s. Bajaj Finance Limited was rejected by the RP. Being aggrieved, M/s. Bajaj Finance Limited filed a Company Application No. 367 of 2019 before this Bench. The same has been heard and decided by the Bench on 03.01.2020. 6. It is stated by the Resolution Professional that the last day for submission of Resolution Plan was 26.06.2019 and only one Resolution Plan was received from one Mr. Harshit Sapra. It is further submitted that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... quel to the above, the Application is allowed and Liquidation of the Corporate Debtor namely, M/s. Pawan Buildwell Private Limited is ordered in the manner as laid down in Chapter III of Part II of the Insolvency and Bankruptcy Code, 2016 along with the following directions : a. Mr. Arun Chadha having Registration No. IBBI/IPA-001/IP-POO 165/2017-18/10334 is appointed as Liquidator. He is directed to make a public announcement stating that the Corporate Debtor M/s. Pawan Buildwell Pvt. Ltd. is in Liquidation in terms of the Regulation 12 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016; b. The Order of Moratorium passed under Section 14 of the Insolvency and Bankruptcy Code, 2016 shall cease to h ..... X X X X Extracts X X X X X X X X Extracts X X X X
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