9911796707
TMI Blog2021 (11) TMI 250X X X X Extracts X X X X X X X X Extracts X X X X ..... (1) of the Insolvency and Bankruptcy Code, 2016, praying following reliefs: a. To allow present application under Section 33 of the Code for liquidation of the Corporate Debtor; b. To pass an appropriate order permitting the initiation of liquidation process of the Corporate Debtor; c. To appoint the Applicant as Liquidator under Section 34(1) of the Insolvency and Bankruptcy Code, 2016; d. To pass appropriate orders Under Section 39B of the Code to provide for meeting liquidation cost as the Committee of Creditors has rejected the resolution relating to the same and to direct the members of CoC to contribute to the same as proposed in the relevant resolution by the Resolution Professional; e. To pass appropriate orders for the li ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n of Resolution plan. It is submitted that the CIRP period was further extended by 90 days vide an order dated 09.09.2019. Thereafter, no EoI was invited. 5. The CoC in its 1st meeting held on 22.04.2019 decided to appoint a Valuer. The RP accordingly appointed two registered valuers as required under Regulation 27 of the IBBI (IRP for Corporate Persons) Regulations, 2016 and the Information Memorandum was prepared as provided under Regulation 36(1) of the said regulation. 6. The Counsel for the Applicant submits that the in response to the publication in Form G an invitation for Expression of Interest was received from M/s. Infinx Services Pvt. Ltd. Thereafter, the prospective resolution applicant was provided with the information, evalu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ta, Resolution Professional be and is hereby authorised to file application with the Hon'ble NCLT for Liquidation of the Corporate Debtor namely Peerless Fabrikkerne (India) Ltd. under Section 33 of the Insolvency and Bankruptcy Code, 2016 and regulations made thereunder." 9. Hence, the CoC in its 7th meeting held on 15.09.2019, with 67% voting rights passed a resolution for liquidating the company. Accordingly, the Resolution Professional filed this application for liquidation of the Company as provided u/s. 33 of the Insolvency & Bankruptcy Code, 2016 (Code). 10. The Applicant/Resolution Professional Mr. Adesh Kumar Gupta, has agreed to act as liquidator to carry on the process of liquidation and given his consent to act as Liquidat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the case may be, shall cease to have effect and shall be vested with the liquidator. f. That the Corporate Debtor to be liquidated in the manner as laid down in the Chapter by issuing Public Notice stating that the Corporate Debtor is in liquidation with a direction to the Liquidator to send this order to the ROC under which this Company has been registered. g. All the powers of the Board of Directors, key managerial persons, the partners of the Corporate Debtor hereafter ceased to exist. All these powers henceforth vest with the Liquidator. h. That the personnel of the Corporate Debtor are directed to extend all co-operation to the Liquidator as required by him in managing the liquidation process of the Corporate Debtor. i. That on ..... X X X X Extracts X X X X X X X X Extracts X X X X
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