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TMI Blog2018 (9) TMI 942X X X X Extracts X X X X X X X X Extracts X X X X ..... n the Miscellaneous Application and the resolution passed by the CoCs as referred hereinabove, this Authority in exercise of powers conferred under Sub-Clauses (i), (ii) and (iii) of Clause (b) of Sub-Section (1) of Section 33 of the I&B Code, 2016, proceed to pass Order. This Authority order for liquidation of the Corporate Debtor viz., M/s. Associated Cylinders and Accessories Private Limited, which shall be conducted in the manner as laid down in Chapter III of Part II of the I&B Code, 2016. This Authority appoints the Resolution Professional viz., Mrs. SatyadeviAlamuri as Company Liquidator, who shall issue a public announcement stating therein that the Corporate Debtor is in liquidation; - MA/226/2018 filed in CP/607/IB/2017 - - - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the 2nd Meeting of the CoCs conducted on 27.03.2018, the CoCs unanimously resolved to appoint the Applicant viz., Mrs. Satyadevi Alamuri as RP. Thereafter, the Resolution Professional has taken steps seeking 'Expression of Interest' for inviting Resolution Plans in respect of the Corporate Debtor and fixed the last date for submission of Resolution Plans on 30.06.2018. 4. It is averred in the Miscellaneous Application that four Applicants had given their Expression of Interest but later on they expressed their unwillingness to proceed further. It is further averred by the Resolution Professional that the Corporate Debtor ceased to operate from 2017 and as per the provisional accounts for the year ended 31.03.2017, the turno ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /CB/2017, and the resolution passed by the CoCs as referred hereinabove, this Authority in exercise of powers conferred under Sub-Clauses (i), (ii) and (iii) of Clause (b) of Sub-Section (1) of Section 33 of the I B Code, 2016, proceed to pass Order as follows:- I. This Authority order for liquidation of the Corporate Debtor viz., M/s. Associated Cylinders and Accessories Private Limited, which shall be conducted in the manner as laid down in Chapter III of Part II of the I B Code, 2016; II. This Authority appoints the Resolution Professional viz., Mrs. SatyadeviAlamuri as Company Liquidator, who shall issue a public announcement stating therein that the Corporate Debtor is in liquidation; III. The moratorium declared under Section ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Corporate Debtor. IX. The Company Liquidator shall be entitled to charge such fee for the conduct of the liquidation proceedings in such a proportion to the value of the liquidation estate assets as may be specified by the Board. Accordingly, the fees of the conduct of the liquidation proceedings shall be paid to the Company Liquidator from the proceeds of the liquidation estate. X. Copy of this Order shall be sent to the concerned Registrar of Companies, RD, OL, Registered Office of the Corporate Debtor by the Company Liquidator viz., Mrs. SatyadeviAlamuri, for information and compliance. 10. In terms of the above, Miscellaneous Application No.226/IB/2018 in CP/607/IB/CB/2017 filed by the Resolution Professional under Section ..... X X X X Extracts X X X X X X X X Extracts X X X X
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