TMI Blog2022 (4) TMI 525X X X X Extracts X X X X X X X X Extracts X X X X ..... :- 30-3-2022 - Dr. Deepti Mukesh, Member (J) And Kaushalendra Kumar Singh, Member (T) For Appearing Parties : Nitu Chaturvedi, Learned Counsel and Shalabh Kumar Daga ORDER Dr. Deepti Mukesh, Member (J) 1. The instant Application is filed by Mr. Shalabh Kumar Daga, Resolution Professional of corporate debtor M/s. Raghukul Cottex Processing Pvt. Ltd., under Section 33 and 34 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as Code ) for liquidation of the Corporate Debtor. 2. This Adjudicating Authority, vide order dated 18.12.2020, had admitted the application filed by Bank of India under Section 7 of Code for initiation of Corporate Insolvency Resolution Process ('CIRP') of the Corporate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ting Authority for exclusion of 60 days for covid-19 pandemic lockdown and extension for 90 days in CIRP period which was filed by resolution professional in IA 408 of 2021 which was allowed. 8. The CoC in the 4th meeting held on 24.08.2021 discussed that extended Expression of Interest had been published on 07.07.2021. In absence of any Resolution Plan forthcoming the CoC decided to liquidate the corporate debtor as going concern. Thereby, the CoC in the 4th meeting held on 24.08.2021 had unanimously resolved to liquidate the Corporate Debtor as going concern and also resolved to appoint the Applicant herein Mr. Shalabh Kumar Daga bearing registration No. IBBI/IPA-001/IP-P00071/2017-18/10157 as a liquidator under Section 34(4) of the Co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ty with which the corporate debtor is registered. (2) where the resolution professional at any time during the corporate insolvency resolution process but before confirmation of resolution plan, intimates the adjudicating authority of the decision of the committee of creditor approved by not less than sixty-six percent of the voting share to liquidate the corporate debtor, the Adjudicating Authority shall pass a liquidation order as referred to in sub-clause (i), (ii) and (iii) of clause (b) of Sub-Section (1) 10. We hereby pass the order of liquidation of the Corporate Debtor M/s. Raghukul Cottex Processing Pvt. Ltd., with following directions: 1) The liquidation of the Corporate Debtor is effective from the date of this ord ..... X X X X Extracts X X X X X X X X Extracts X X X X
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