9911796707
TMI Blog2022 (9) TMI 747X X X X Extracts X X X X X X X X Extracts X X X X ..... The Corporate Debtor is ordered to be liquidated in terms of section 33(2) of the Code - Application allowed. - IA (IB) No. 611/KB/2022 in CP (IB) No. 1685/KB/2019 - - - Dated:- 14-9-2022 - Shri Rohit Kapoor , Member ( Judicial ) And Shri Balraj Joshi , Member ( Technical ) For the Resolution Professional : Mr. Rishav Banerjee , Adv Mr. Yashraj Agarwalla , Adv Mr. Arun Kumar Khandelia , Resolution Professional ORDER Per : Balraj Joshi , Member ( Technical ) 1. This court was convened via video conferencing. 2. This is an application filed by the Resolution Professional with the approval of the Committee of Creditors (CoC) seeking liquidation of the Corporate Debtor, viz., Mohan Motor Dealers Private Limited [CIN: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Suspended Directors of the Corporate Debtor to Cooperate with the Applicant. On 10th November, 2021 the Adjudicating Authority, directed the Suspended Directors to provide all the relevant documents /information/data to the Applicant within 48 hours from the conclusion of the hearing. Despite the directions of the Adjudicating Authority, the suspended directors failed to provide the relevant documents /information/data to the Applicant. 6. On 20th December, 2021, upon hearing the matter, the Adjudicating Authority, directed the Suspended Directors to be personally present before the bench on 22nd December 2021. 7. Thereafter, on 23rd December, 202l, subsequent to the strict directions given by the Hon'ble Bench on 22nd December, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Members of the Committee of Creditors present in the said meeting to go for liquidation. The CoC, by 96.6% votes decided to go for liquidation as there is no asset in the company as on date, until the outcome of the Application filed under section 43, 45 and 66 of the Code. 13. The Applicant further submitted that no information memorandum could be prepared by the Applicant Resolution Professional due to noncooperation on part of the suspended board of directors for which the Applicant could not even publish any Form- G. 14. The 180 days of CIRP after all exclusion orders, has expired on 30th May, 2022 and the COC has not extended the CIRP period by 90 more days and the COC has not taken resolution to that effect, thereby compellin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on of the committee of creditors approved by not less than sixty-six percent of voting share to liquidate the corporate debtor 20. This Bench, therefore, hereby orders as follows: - a. Prayers as sought for in I.A. (IB) No. 125/KB/2021 filed by Mr. Arun Kumar Khandelia, Resolution Professional of Mohan Motors Private Limited, the Corporate Debtor, is allowed and the Corporate Debtor is ordered to be liquidated in terms of section 33(2) of the Code; b. Mr. Vaibhav Khandelwal [Reg. No. IBBI/IPA-001/IPP02157/ 2020-2021/13348], email idvaaibhavkkahndelwal@ gmail.com, is hereby appointed as Liquidator is hereby appointed as Liquidator as provided under section 34(5) of the Code. c. The Liquidator shall initiate liquidation pro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the Liquidator. i. In terms of section 33(1)(b)(iii), the Liquidator shall file a copy of this Order with the Registrar of Companies, West Bengal, Kolkata, within whose jurisdiction the Corporate Debtor is registered. Additionally, the Registry shall also forward a copy of this Order to the Registrar of Companies, West Bengal, Kolkata. 21. The application bearing IA (IB) No. 611/KB/2022 shall stand disposed of in accordance with the above directions. 22. The Registry is directed to send e-mail copies of the order forthwith to all the parties and their Ld. Counsel for information and for taking necessary steps. 23. Certified copy of this order may be issued, if applied for, upon compliance of all requisite formalities. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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