TMI Blog2020 (5) TMI 694X X X X Extracts X X X X X X X X Extracts X X X X ..... he terms of the directions imposed - application allowed. - MA/130/2020 in IBA/910/2019 - - - Dated:- 29-5-2020 - R. VARADHARAJAN AND S. VIJAYARAGHAVAN, JJ. For Applicant : Shri. S. Sathiyanarayanan, Advocate ORDER This Application has been moved by the Resolution Professional appointed by this Tribunal, seeking for the liquidation of the Corporate Debtor under Section 33 (2) of the IBC, 2016. 2. From the averments made by the Applicant, it is evident that the CIRP of the Corporate Debtor was initiated and the Applicant herein was appointed as IRP 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, subsequentl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... el! for the RP submitted that no application is pending under Section 43, 45, 50 and 66 of the IBC. 4. The 3rd CoC meeting held on 03.01.2020 unanimously resolved to liquidate the Corporate Director and thereby directed the Applicant herein to approach this Tribunal for liquidation of the Corporate Debtor under Section 33(2) of the Insolvency and Bankruptcy Code, 2016. The 3rd Coc meeting further approved the Resolution Professional Mr. KC Senthil Kumar to act as Liquidator upon orders passed by the NCLT. 5. Learned Counsel for the Resolution Professional submitted that as per the resolution passed by the 3 CoC approving the RP to act as a Liquidator is also extracted and that the written consent by the proposed RP has been filed. On ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ke transactions including fraudulent preferences and file suitable application before this Adjudicating Authority. d) The Registry is directed to communicate this order to the 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 governs the Corporate Debtor, the Liquidator shall also duly intimate about the order of liquidation. f) The order of Moratorium passed under Section 14 of the Insolvency and Bankruptcy Code, 2016 shall cease to have its effect and that a fresh Moratorium under section 33(5) of the Ins ..... X X X X Extracts X X X X X X X X Extracts X X X X
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