TMI Blog2021 (8) TMI 950X X X X Extracts X X X X X X X X Extracts X X X X ..... ation value in relation to the Corporate Debtor. It is stated in the said Application that in order to maintain the confidentiality the Applicant has not disclosed the Liquidation value. However, it is very strange on the part of the Applicant to state so, since the Applicant/RP has disclosed the purported settlement proposal given by the promoter of the Corporate Debtor as ₹ 328.21 Crore, h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... thdrawal of CIRP in relation to the Corporate Debtor. Also, the 330 days period of CIRP in relation to the Corporate Debtor expired and hence the Applicant/Resolution Professional has filed the present Application seeking Liquidation of the Corporate Debtor. 2. In so far as the present IA/837/2020 filed by the RP seeking Liquidation of the Corporate Debtor is concerned, it is seen that the Appl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t provided by the IBBI for the period from July 2021 to December 2021, we hereby appoint Mr. Ayyamplalayam Venkatesan Arun, with Reg. No. IBBI/IPA-001/IP-P01079/2017-2018/11792 as the Liquidator of the Corporate Debtor, to carry out the liquidation process subject to the following terms of the directions. a) The Liquidator shall strictly act in accordance with the provisions of IBC, 2016 and t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Registrar of Companies, Chennai and to the Insolvency and Bankruptcy Board of India; e) In terms of section 178 of the Income Tax Act, 1961, the Liquidator shall give necessary intimation to the Income Tax Department. In relation to other fiscal and regulatory authorities which govern the Corporate Debtor, the Liquidator shall also duly intimate about the order of liquidation. f) The or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... from the liquidation commencement date as per regulation 13 of the Insolvency and Bankruptcy (Liquidation Process) Regulations, 2016. Further such other or further report as are required to be filed under the relevant Regulations, in addition, shall also be duly filed by him with this Adjudicating Authority. j) Copy of this order be sent to the Financial creditors, Corporate Debtor and the L ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
