TMI Blog2020 (7) TMI 802X X X X Extracts X X X X X X X X Extracts X X X X ..... idated - Application allowed. - IA No. 715 of 2019 AND LA. No. 163 of 2020 IN CP(IB) No. 67/9/NCLT/AHM /2018, IA No. 715 of 2019 IN CP(IB) NO. 320 of 2018, IA No. 163 of 2020 IN CP(IB) NO. 320 of 2018 - - - Dated:- 15-7-2020 - HON'BLE MR. MADAN B GOSAVI, MEMBER(J) AND HON'BLE MR. VIRENDRA KUMAR GUPTA, MEMBER (T) Learned Counsel Mr. Vijay Patel, Resolution Professional/ Applicant in IA No. 715 of 2019 Learned Counsel Ms. Sakshi Raheja appeared for the Applicant in IA No. 163 of 2020 COMMON ORDER [PER: HON'BLE MR. VIRENDRA KUMAR GUPTA, MEMBER (T) 1. The present Interlocutory Application is filed by the Resolution Professional seeking for passing an Order of liquidation under Section 33(1), 33(2) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ailable on record. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process on 26.04.2019. Even after, multiple extension for submission of EOI no concrete proposal has come. The Committee of Creditors in its 6th meeting has passed a Resolution for liquidation of the Corporate Debtor with requisite majority. 4. In these circumstances, we are of the view that the Corporate Debtor needs to be liquidated. Accordingly we pass following order : ORDER 1. As per the Section 34(1) of the I.B. Code, the Applicant/ Resolution professional, Ms. Vineeta Maheshwari. (Registration No. IBBI/IPA-OOI/IP- P00185/2017-18/ 10364) is hereby appointed as a Liquidator of the company M/S. Kaneria Granito Ltd. having CIN No. U14000G ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ll take necessary legal action to recover the trade receivables and other credits such as loans and advances from the parties which are reflected in the latest balance sheet of the Corporate Debtor, if any. This direction is hereby given in concurrence of the jurisdiction prescribed under Section 33(5) of the Code. 9. This liquidation order shall be a deemed to be notice of discharge to the officers, employees and workmen of the Corporate Debtor except to the extent of the business of the Corporate Debtor continued during the liquidation process by the Liquidator. 10. The Moratorium declared vide order dated 26.04.2019 in CP(IB) No.320/7/NCLT/AHM/2018, henceforth, ceases to exist. 11. The present I.A. No. 715 of 2019 is allowed dir ..... X X X X Extracts X X X X X X X X Extracts X X X X
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