TMI Blog2021 (6) TMI 121X X X X Extracts X X X X X X X X Extracts X X X X ..... its duties again, as per the Insolvency and Bankruptcy Code, 2016, for which the Order of extension of the Liquidation process for two more years is required - The prayer for extension of the period of Liquidation of the Corporate Debtor for two more years beyond 10-10-2020, in accordance with regulations as laid down in Regulation 44(2) of the Insolvency and Bankruptcy Board of India (Liquidation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Regulations, 2016. 3. The Liquidation process of the Corporate Debtor was initiated vide Order of this Tribunal dated 11th October, 2018 and vide the same Order the Applicant was appointed as the Liquidator. Pursuant to the said Order, the Liquidator on 15th October, 2018 made public announcement of the Liquidation process of the Corporate Debtor. The sale notice was issued by the Liquidator o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cess conducted by the Applicant and observed that BHEL have no charge on the goods belonging to the Corporate Debtor. 5. Further, aggrieved by this Order, BHEL moved an Appeal before the National Company Law Appellate Tribunal for quashing of the Order of this Tribunal dated 13-12-2019. The National Company Law Appellate Tribunal on 8th January, 2020, granted stay on the Order dated 13-12-2019, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ccount of lockdown, the values of the assets might have depreciated. 8. In September, 2020, BHEL and Agarwal Structures Mills Pvt. Ltd., successful bidder, filed Appeal before Hon'ble Supreme Court of India against the impugned Order dated 10-08-2020 of National Company Law Appellate Tribunal. 9. The period of two years of the Liquidation process ended on 10-10-2020. 10. It is further ..... X X X X Extracts X X X X X X X X Extracts X X X X
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