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TMI Blog2018 (11) TMI 1923X X X X Extracts X X X X X X X X Extracts X X X X ..... 16) read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 for initiating Corporate Insolvency Resolution Process (In short, CIRP) as against the Corporate Debtor/Hari Machines Limited claiming that Rs. 42,90,719.85 (Rupees Forty Two Lakhs Ninety Thousand Seven Hundred Ninteen and eighty five paise only) is the outstanding amount due. 2. The above said application was admitted vide Order dated 15/05/2018 by appointing Mr. Nirupam Halder, Insolvency Profess ional, as an Interim Resolution Professional. Upon appointment Mr. Nirupam Halder conducted the resol ution process and issued public announcement. He has completed the process within a period of 180 days. He would submit that despite ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s Liquidator. 5. He would further submit that the COC in the meeting held on 29/10/2018 has decided to propose the name of one Mr. Kannan Tiruvengadam, Registration No. IBBl/lPA-001/lP-P00253/20172018/10482, E-Mail I.D. Mobile No. 98369 69699, an Insolvency Professional, to act as a Liquidator subject to the approval of the Adjudicating Authority. 6. On going through the copy of the Minutes and the reports submitted by the Resolution Professional, I am satisfied that COC by a majority vote share has decided not to proceed further with the CIRP process for want of any prospective resolution applicant to the satisfaction of the COC, and decided to go for liquidation. The Resolution Professional in the case in hand, duly conducte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Liquidation, upon the following directions:- ORDER (a) Mr. Kannan Tiruvengadam is appointed as Liquidator; (b) Mr. Kannan Tiruvengadam is directed to issue Public Announcement stating that the Corporate Debtor is in liquidation, in tens of Regulation 12 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016; (c) The Registry is directed to communicate this Order to the Registrar of Companies, West Bengal and to the Insolvency and Bankruptcy Board of India; (d) The Order of Moratorium passed under Section 14 of the Insolvency and Bankruptcy Code, 2016 shall cease to have effect and that a fresh Moratorium under Section 33(5) of the Insolvency and Bankruptcy Code shall commence; (e) This order i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed to the Managing Director and the office bearer of the Corporate Debtor. Since an order of liquidation is passed in the C.P. (1B) No. 109/KB/2018, the prayer in the application has become infructuous and therefore, requires no further consideration, which is liable to be dismissed. 2. Accordingly, C.A. (1B) No. 703/KB/2018 is dismissed. Urgent certified copy of this order, if applied for, be issued to the parties upon compliance of all requisite formalities. Signed on this, the 16 th day of November, 2018. C.A. (IB) No. 1027/KB/2018 in C.P. (IB) No. 109/KB of 2018 ORDER 1. C.A. (1B) No. 1027/KB/2018 is filed u/s. 43 and 45 of the Insolvency and Bankruptcy Code, 2016 by the Resolution Professional alleging preferential transaction by ..... X X X X Extracts X X X X X X X X Extracts X X X X
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