9911796707
TMI Blog2020 (5) TMI 694X X X X Extracts X X X X X X X X Extracts X X X X ..... P on 25.09.219 and the IRP caused public announcement calling for the claimants from the Creditors of the Corporate Debtor by virtue of publication dated 30.09.2019, subsequently, the applicant received the claim of Mr.Ce.K. Thurraiswami, the Financial Creditor, pursuant to that the CoC was constituted on 15.10.2019 and the ist meeting of the CoC was held on 23.10.2019. Thereafter, the CoC resolved to appoint the Applicant as the Resolution Professional on 23.10.2019. Pursuant thereto, the applicant appointed 2 IBBI Registered Valuers on 02.11.2019 for valuation of assets of the Corporate Debtor and from Form-H filed as per directions of this Tribunal, it is evident that the fair value and the liquidation value of the Corporate debtor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... RP has been filed. On perusal it is seen that the RP has given his written consent by signed letter dated 18.02.2020 to act as a Liquidator of the Corporate Debtor, if appointed by this Tribunal. 6. Taking into consideration the provisions of Section 33 of IBC,2016 and in the absence of any opposition to the Application from the Promoters of the Corporate Debtor and also guided by the decision of the Hon'ble Supreme Court in the matter of Mr. K. Sasidharan -Vs-- Indian Overseas Bank (2019) SCC OnLine SC 257, this Tribunal orders for the liquidation of the Corporate Debtor. 7. In the circumstances, Mr. K.C.Senthilkumar, IBBI/IPA-001/IP01229/2018-2019/12091 is appointed as the Liquidator of the Corporate Debtor to carry out the liquidation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... torium under section 33(5) of the Insolvency and Bankruptcy Code shall commence. g) The Liquidator is directed to proceed with the process of liquidation in a manner laid down in Chapter III of Part II of the Insolvency and Bankruptcy Code, 2016. h) The Liquidator is directed to investigate the financial affairs of the Corporate Debtor in terms of the provisions of Section - 35(1) of IBC, 2016 read with relevant rules and regulations and also file its response for disposal of any pending Company Applications during the process of liquidation. i) The Liquidator shall submit a Preliminary report to this Tribunal within 75 (seventy-five) days from the liquidation commencement date as per regulation 13 of the Insolvency and Bank ..... X X X X Extracts X X X X X X X X Extracts X X X X
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