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TMI Blog2021 (6) TMI 200X X X X Extracts X X X X X X X X Extracts X X X X ..... L31300WB1965PLC026637], on the ground that no Resolution Plan approved by the CoC and the CoC by 96.70% voting share approved liquidation of the Corporate Debtor. 3. This Adjudicating Authority vide its order dated 11/02/2020 on a Petition filed by Meti Finance Private Limited (Financial Creditor) under section 7 of the Insolvency and Bankruptcy Code, 2016 ('the Code') directed initiation of the Corporate Insolvency Resolution Process ('CIRP') against the Corporate Debtor and appointed Mr. Mahesh Chand Sharma as the Interim Resolution Professional (IRP), a copy of the order dated 11/02//2020 is annexed with the application and marked with the Letter "A". 4. In terms of section 15 of the Code, public announcement in Form &# ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... udicating Authority vide order dated 04.12.2020 allowed the said application being IA No. 1289/KB/2020 and condoned the delay in submission of EOI before the RP. Pursuant to that, Laxmi Global Private Limited submitted its Resolution Plan before the RP. On the very same day i.e. on 04.12.2020, this Adjudicating Authority also extended the CIRP period by 60 days from 15.12.2020 (the date of completion of 180 days) after excluding period of 129 days from 25.03.2020 to 31.07.2020 and thus the revised expiry date of CIRP was 13.02.2021 9. Therefore, the RP received two Resolution Plans i.e. from Supreme & Co. Private Limited and Laxmi Global Private Limited which he placed before the CoC in its 9th CoC meeting held on 15.12.2020. 10. In the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 12. In the 14th CoC meeting held on 12.02.2021, CoC passed a resolution with 96.70% voting share for initiation of Liquidation against the Corporate Debtor pursuant to Section 33(2) of IBC, 2016. A copy of the minutes of the 14th CoC meeting is annexed to the application at Annexure-H. 13. Pursuant to the decision of the CoC to liquidate the Corporate Debtor, the RP filed this application being IA No. 217/KB/2021 for Liquidation of the Corporate Debtor. 14. We have considered the submission made by the Ld. Authorised Representative appearing for the Applicant and perused the records. 15. Section 33(2) of the Code enjoins the Adjudicating Authority to pass an order for liquidation of the Corporate Debtor where the Resolution Professional, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Corporate Debtor is ordered to be liquidated in terms of section 33(2) of the Code read with sub-section (1) thereof. b. Section 34(1) of the Code envisages that subject to the submission of a written consent by the resolution professional, the Adjudicating Authority shall appoint the RP as the Liquidator. Since the RP Mr. Anil Anchalia has submitted his consent to act as the Liquidator of the Corporate Debtor, we hereby appoint Mr. Anil Anchalia, with IBBI Registration No. IBBI/IPA-001/IP-P00049/2017-2018/10123, E-mail ID: [email protected], telephone no. 7980034291 & 8100310299, is hereby appointed as liquidator as provided under section 34(4)(c) of the Code, subject, however, to his possessing a valid Authorisation for Assignmen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ded in section 33(5) of the Code read with its proviso. i. In accordance with section 33(7) of the Code, this liquidation order shall be deemed to be a notice of discharge to the officers, employees and workmen of the Corporate Debtor except to the extent of the business of the Corporate Debtor continued during the 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. 20. The application bearing IA No. 217/KB/2021 shall stand disposed ..... X X X X Extracts X X X X X X X X Extracts X X X X
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