TMI Blog2021 (5) TMI 104X X X X Extracts X X X X X X X X Extracts X X X X ..... For Appearing Parties : Debaleena Ganguly and B. Gayatri, Advocates ORDER Rajasekhar V. K., Member (J) 1. This Tribunal convened via video conference. 2. This is an application filed by the Resolution Professional seeking liquidation of the Corporate Debtor, viz., Duckbill Drugs Private Limited [CIN: U24232WB1994PTC063258], on the ground that no Resolution Plan received by him and the CoC by 100% voting share approved liquidation of the Corporate Debtor. 3. This Adjudicating Authority vide its order dated 17/12/2019 on a Petition filed by Bell Finvest (India) Limited (Financial Creditor) under section 7 of the Insolvency and Bankruptcy Code, 2016 ('the Code') directed initiation of the Corporate Insolvency Re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on 20/10/2020, the RP informed the CoC that in spite of all efforts to communicate with the suspended management either by speed post or by email or personal visit, till the filing of this application, no cooperation has been received from the suspended directors. However, an application u/s. 19 of the Code had been filed before this Adjudicating Authority on 17/03/2020 for non-cooperation by the suspended members of the Board of Directors of the Corporate Debtor. In the meantime, 180 days CIRP period had ended on 14/06/2020 and application for extension or exclusion of CIRP period has not been filed so far. The instant application has been filed for maximisation of the value and to avoid future CIRP cost and time. A copy of the minutes of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3(2) of the Code read with sub-section (1) thereof. b. Since the RP has not given his consent to act as Liquidator, Mr. Santanu Brahma [Reg. No. IBBI/IPA-001/IP-P01482/2018-2019/12251], E-mail ID: ip.santanubrahma@gmail.com, telephone no. 98300 72700, is hereby appointed as liquidator as provided under section 34(4)(c) of the Code, subject, however, to his possessing a valid Authorisation for Assignment (AFA) issued by the Insolvency Professional Agency (IPA) of which he is a professional member, in terms of regulation 7A of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2019. c. The RP is hereby directed to handover all documents in his possession in respect of the Corporate Debtor to the Liq ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... liquidation process by the Liquidator. j. In terms of section 33(1)(b)(iii), the Liquidator shall file a copy of this Order with the Registrar of Companies, West Bengal, Kolkata, within whose jurisdiction the Corporate Debtor is registered. Additionally, the Registry shall also forward a copy of this Order to the Registrar of Companies, West Bengal, Kolkata. 15. The application bearing IA No. 124/KB/2021 shall stand disposed of in accordance with the above directions. 16. CP (IB) No. 972/KB/2018 to come up for filing of periodical report on 05/07/2021. 17. The Registry is directed to send e-mail copies of the order forthwith to all the parties and their Ld. Counsel for information and for taking necessary steps. 18. Certif ..... X X X X Extracts X X X X X X X X Extracts X X X X
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