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TMI Blog2022 (9) TMI 1342X X X X Extracts X X X X X X X X Extracts X X X X ..... olution Professional, Mr. Anshul Gupta (hereinafter referred to as the "Applicant") seeking liquidation of Topsgrup Services and Solutions Limited (hereinafter referred to as the "Corporate Debtor") under Section 33 (1) of the Insolvency and Bankruptcy Code, 2016 (hereinafter called as "the Code"), praying for following reliefs: a. That this Hon'ble Tribunal be pleased to Order and direct the Corporate Debtor to be liquidated in accordance under Section 33(1) of the Code. b. That this Hon'ble Tribunal be pleased to appoint the Applicant i.e. Mr. Anshul Gupta having Registration No. IBBI/IPA- 002/IP-N00310/2017-2018/10899 as the liquidator of the Corporate Debtor. c. For Such other and further reliefs as this Hon'ble Tribunal may dee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r appointment of registered valuers accordingly Resolution Professional has appointed valuer as required under Regulation 27 of IBBI (IRP for corporate persons) Regulation, 2016 and the Information memorandum was prepared as provided under Regulation 36 (1) of the said regulation. E. The Applicant submits that on 15.05.2021, the 3rd meeting of COC was convened inter alia the Applicant's Appointment as the RP of the Corporate Debtor was approved by the COC and Mr. Anshul Gupta was appointed as RP which was approved by this tribunal on 27.07.2021 wide its order IA/1341/MB/2021. F. The Applicant had in accordance with the approval of Committee of Creditors carried out in 2nd, 5th & 7th COC meeting had issued Expression of Interest in Form- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Applicant as Liquidator to carry on the process of Liquidation of the Corporate Debtor. The Applicant has agreed to act as Liquidator to carry on the process of Liquidation and given his consent to act as Liquidator in writing dated 24.02.2022. 3. The Applicant filed I.A (I.B.C)/ 528(MB)/2022 before Hon'ble Tribunal seeking Liquidation application wherein Hon'ble Tribunal vide its order dated 02.03.2022 urges member of COC to convene a meeting and reconsider the resolution plan submitted by M/s Secure IT Facility Management Private Limited (hereinafter referred to as "Prospective Resolution Applicant") and extended the CIRP Period till 24.03.2022. 4. On 17.03.2022, 14th COC Meeting was convened which was attended by only two COC members ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d in this regard for the reason best known to the COC. It is important to observe here that more than 397 days has been elapsed without any Resolution application and therefore this Tribunal by virtue of powers conferred under section 33(1)(b)(i), orders Liquidation. ORDER 1. The above I.A. No. 528/2022 is allowed and the Corporate Debtor Topsgrup Services and Solutions Limited is ordered to be liquidated. a. Mr. Anshul Gupta, having Registration No. IBBI/IPA- 002/IP-N00310/2017-2018/10899, having office at: Flat No. 1501, Tower No.4, Spring Groove Towers, Lokhandwala Township, Kandiwali East, Mumbai City- 400101, is hereby appointed as the Liquidator as provided under Section 34(1) of the Code. b. That the Liquidator for conduct of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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