TMI Blog2022 (8) TMI 614X X X X Extracts X X X X X X X X Extracts X X X X ..... e, taken during the CIRP, the CoC did not receive any viable proposal for revival of the Company. The counsel submits that the decision in the IAs pending, will not have any bearing on the allowing of this application. Application allowed. - I.A. No. 88/2022 in CP (IB) No. 215/9/AMR/2019 - - - Dated:- 18-7-2022 - Telaprolu Rajani, J. (Member (J)) For the Appellant : Mano Ranjani , Advo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ri Bhaskar Neti, as the Interim Resolution Professional (IRP) and directed him to take charge of the Corporate Debtor and take necessary steps in furtherance of CIRP. II. The Interim Resolution Professional has issued Public Announcement on 15.11.2021, for inviting claims from the Creditors and last date for submission of claims is 27.11.2021. III. On receiving the claim from one Financi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tment of RP as Liquidator and liquidation of the Corporate Debtor with 100% voting was done. 3. Hence the Applicant came up with this application and prayed to appoint him as Liquidator. 4. From the above, it would appear that despite all possible steps as required under the Code, taken during the CIRP, the CoC did not receive any viable proposal for revival of the Company. The counsel subm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rate here from. d) Subject to section 52 of the IBC 2016 no suit or other legal proceedings shall be instituted by or against the Corporate Debtor. This shall however not apply to legal proceedings in relation to such transactions as may be notified by the Central Government in consultation with any financial sector regulator. e) All powers of the Board of Directors, Key Managerial Perso ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tinued during the Liquidation process by the Liquidator. j) Copy of the Order shall be furnished to the IBBI, to the Regional Director (South Eastern Region), Ministry of Corporate Affairs; Registrar of Companies Official Liquidator, Andhra Pradesh, the Registered Office of the Corporate Debtor; and the Liquidator. 6. With the above directions I.A. No. 88/2022 in CP(IB) No. 215/9/AMR/20 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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