9911796707
TMI Blog2022 (5) TMI 916X X X X Extracts X X X X X X X X Extracts X X X X ..... B Code, 2016 as unanimously resolved in the 8th CoC Meeting dated 08.01.2022 as per Chapter III of the Insolvency and Bankruptcy Code, 2016 and the Regulations framed thereunder. (ii) Appoint Mr. Tharuvai Ramachandran Ravichandran as the Liquidator of the Corporate Debtor Viz, Private Limited as resolved in the 8th CoC Meeting dated 08.01.2022. (iii) Pass such further or orders which this Hon'ble Tribunal may deem fit and proper in the circumstances of this case and thus render justice. 2. From the averments made by the Applicant, it is evident that the CIRP of the Corporate Debtor was initiated and one Mrs. Vijayakumari Natarajan was appointed as Interim Resolution Professional (IRP) on 03.02.2021. Since the order of this Tribuna ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nal by way of an application bearing IA/480/CHE/2021. 6. The Applicant has further averred that an application MA/70/CHE/2021 was filed seeking exclusion of 37 days lost due to late receipt of CIRP order and the same was allowed by this Tribunal vide its order dated 30.07.2021. He has further stated that the Tribunal vide its order dated 28.09.2021 made in IA/883/CHE/2021 extended the period of CIRP for a further period of 90 days upto 09.01.2022 based on the recommendations of the 5th Meeting of CoC. 7. Further, the RP made a public announcement for Expression of Interest ("EoI") in Form-G on 03.09.2021 in New Indian Express and Dinamani and fixed the last date for submission of EoI on or before 21.10.2021. Though there was no expression ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ited under Section 33(1) and other applicable provisions of the IBC, 2016 as no resolution plan was received despite publication of "Invitation of EoI" twice in Newspapers and also the maximum period (inclusive of exclusion and extension period) permitted for completion of the Corporate Insolvency Resolution process is Jan 09, 2022 AND RESOLVED FURTHER THAT an application be made to NCLT, Chennai to liquidate Freeworld Exports Private Limited (CIN: U51420TN2004PTC052776) and the RP Mr. Tharuvai Ramachandran Ravichandran (IBBI/IPA-002/IP N00241/2017-18/10692) be and is hereby authorized to take all necessary steps and to all such acts and deeds as may be necessary from time to time in this regard" 10. It was further averred in the Applica ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... discharge. c) The Liquidator shall investigate the financial affairs of the Corporate Debtor particularly, in relation to preferential transactions/undervalued transactions and such other like 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 govern the Corporate Debtor, the Liquidator shall also duly intimate about the order of liquidatio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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