9911796707
TMI Blog2019 (12) TMI 1369X X X X Extracts X X X X X X X X Extracts X X X X ..... ibunal, seeking for the liquidation of the Corporate Debtor under Section 33(2) of the IBC, 2016. From the averments made by the Applicant, it is evident that the CIRP of the Corporate Debtor was initiated and the Applicant was appointed as Interim Resolution Professional (IRP) on 27.02.2019 and he caused public announcement calling for the claimants from the Creditors of the Corporate Debtor by virtue of publication dated 08.03.2019. Subsequent thereof, the IRP had received claims from the following financial creditors; Date of Claim Name of the Claimant Amount Claimed 1 16.03.2019 Bank of India Rs. 1,32,48,475/- 2 04.11.2019 Lakshmi Vilas Bank Rs. 6,21,000/- Total Rs. 1,38,69,475/- 2. It i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ved to liquidate the Corporate Debtor and thereby directed the Applicant herein to approach this Tribunal for liquidation of the Corporate Debtor. The relevant portion of the 5th CoC meeting passed on 08.07.2019 is extracted hereunder; "Resolved unanimously, after much deliberations on the above points, that RP to move an application for liquidation of M/s. Monorex Pvt. Ltd. as the Corporate Debtor is non - cooperative and the Directors did not attend the CoC meetings, except the first CoC by Mr. Ravi, Managing Director (suspended under CIRP) Further resolved that RP to engage the services of Mr. Sathiyanarayanan for the said proceedings. Further resolved that, as Mr. Murugesan, existing RP wants to be relieved of from being further e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o act as a liquidator, this Tribunal as per Section 34(5) of the IBC, 2016 hereby directs the Insolvency and Bankruptcy Board of India (IBBI) to propose the name of another Insolvency Professional to be appointed as a liquidator. As per Section 34(6) of the IBC, 2016, the IBBI, is directed to propose the name of another Insolvency Professional along with written consent from the Insolvency Professional in the specified form within 10 days from the date of receipt of this order. 9. Upon the name being proposed by the IBBI for the appointment of an Insolvency Professional as a liquidator, the MA/886/2019 will be taken up for passing an order of liquidation by appointing such insolvency professional as the liquidator. 10. Post MA/886/2019 an ..... X X X X Extracts X X X X X X X X Extracts X X X X
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