TMI Blog2021 (12) TMI 679X X X X Extracts X X X X X X X X Extracts X X X X ..... the powers conferred under Sub-section (2) of Section 54 of the I B Code, 2016, hereby orders the dissolution of the Corporate Debtor, viz, M/s. MCCL PETROCHEM PRIVATE LIMITED from the date of this order, and the Corporate Debtor stands dissolved. Consequently, the Liquidator stands relieved. The Liquidator and the Registry are directed to send the copy of this order within 7 days from the da ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed 23.10.2019, on the application filed by the Financial Creditor, namely, M/s. Urbtech Finvest Private Limited, under Section 7 of the I B code, 2016 and the Applicant, Mr. Pankaj Khaitan, was appointed IRP thereafter as RP. 3. The Applicant further states that, this Hon'ble Tribunal, vide its order dated 07.08.2020, was pleased to direct that M/S. MCCL Petrochem Limited, be liquidated ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and constitution of Stakeholders Consultation Committee ( SCC ) has been filed on 25.09.2020. 5. Pursuant to the order of liquidation, the Liquidator opened a liquidation account with Canara Bank, Bharthal Branch, Delhi, having A/c No. - 91431010002793. 6. In order to realize the asset of Corporate Debtor, the Liquidator on 14.07.2021, appointed M/s. Gaiety Housing Land Development Pvt. Lt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he possession of Property to the buyers on 25.08.2021. 8. It is further submitted that the Liquidation value of the liquidation estate was ₹ 2,06,55,344/-, whereas, the amount realized from sale of liquidation estate was ₹ 2,90,00,000 which is higher than the liquidation value. 9. It is submitted that the Liquidator has distributed the available amount to the stakeholders as per ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e assets of the CD have been completely liquidated, this Authority in exercise of the powers conferred under Sub-section (2) of Section 54 of the I B Code, 2016, hereby orders the dissolution of the Corporate Debtor, viz, M/s. MCCL PETROCHEM PRIVATE LIMITED from the date of this order, and the Corporate Debtor stands dissolved. Consequently, the Liquidator stands relieved. 12. The Liquidator ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
