TMI Blog2022 (5) TMI 1045X X X X Extracts X X X X X X X X Extracts X X X X ..... owed. - IA (I.B.C)/286(KB)2022, IA(I.B.C.)/470(KB)2020 and IA(I.B.C.)/154(KB)2021 in C.P. (IB)/1116(KB)2019 - - - Dated:- 12-5-2022 - Rohit Kapoor, Member (J) And Harish Chander Suri, Member (T) For the Appellant : Udit Agarwal, Adv. and Party-in-Person ORDER Harish Chander Suri, Member (T) 1. This Tribunal convened via physical and video conference. 2. IA(IBC)/286(KB)2022, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g been not able to resolve the stressed assets of the Corporate Debtor as the Corporate Debtor is not a going concern and there is no scope of any resolution of the company, at the request of the Resolution Professional, an order of liquidation was passed vide order dated 09/11/2021 appointing the Resolution Professional, Mr. Neeraj Kejriwal, as a Liquidator. 5. Public announcement of commencem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s the applicant did not open any current account of the Corporate Debtor in liquidation process as required under regulation 41(1) of the IBBI (Liquidation Process) Regulations, 2016. 7. In compliance of regulation 13 of the IBBI (Liquidation Process) Regulations, 2016, the liquidator has filed Preliminary Report dated 28/02/2022 along with the NIL list of Stakeholder Consultation Committee. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Final Report dated 28/03/2022 (at page 47) and Compliance Certificate in Form - H (at page 68) have been filed. 11. Ld. Counsel for the Liquidator submits that in the aforesaid circumstances, no purpose would be served in continuing with the liquidation process and early dissolution of the Corporate Debtor u/s. 54 of the Code read with regulation 14 of the IBBI (Liquidation Process) Regulatio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 19 shall stand disposed of in accordance with the above directions. IA(I.B.C.)/470(KB)2020 and IA(I.B.C.)/154(KB)2021 16. In view of the order passed in IA(IBC)/286(KB)2022 directing dissolution of the Corporate Debtor, IA(I.B.C.)/470(KB)2020 and IA(I.B.C)/154(KB)2021 have become infructuous and shall stand dismissed as such. 17. The Registry is directed to send e-mail copies of the order ..... X X X X Extracts X X X X X X X X Extracts X X X X
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