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TMI Blog2018 (9) TMI 1882X X X X Extracts X X X X X X X X Extracts X X X X ..... ted against the extension of time and voted in favour of liquidation of the Corporate Debtor. The L T Finance having 29.89 per cent vote have voted in favour of extension of time and voted against liquidation of Corporate Debtor. Hence, resolution for liquidation of Corporate Debtor is approved by 70.11 per cent vote. This Authority orders for liquidation of the Corporate Debtor viz., M/s. Meka Dredging Company 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., Mr. Dhiren Shantilal Shah Company Liquidator, who shall issue a public announcement stating therein that the Corporate Debtor is in liquidation - moratoriu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ebtor, the copy of which is placed at page 39 of the typed set filed with the Application. 4. It is averred by the Resolution Professional that the Committee of Creditors (CoCs) was constituted, and in the 1st Meeting of the CoCs conducted on 13.03.2018, the CoCs unanimously resolved to appoint the Applicant viz., Mr. Dhiren Shantilal Shah as RP, the copy of the minutes of meeting is placed at pages 45 to 50 of the typed set filed with the Application. 5. In the 4th Meeting of the CoCs held on 30.04.2018 it was decided to call for publication in newspapers for 'Expression of Interest on 04.05.2018 fixing the last date for receipt of EoI on 03.06.2018. Thereafter, the Resolution Professional has taken ste ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al has filed the Miscellaneous Application under Section 33(2) of the I B Code, 2016, to seek order for liquidation of the Corporate Debtor. ORDER 9. In view of the facts and circumstances recorded by Resolution Professional in the Miscellaneous Application No.344/2018 filed in CP/541/IB/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 orders for liquidation of the Corporate Debtor viz., M/s. Meka Dredging Company Private Limited, which shall be conducted in the m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ilal Shah. In addition to this, the Company Liquidator shall exercise the powers and duties as enumerated in Sections 35 to 50, 52 to 54 of the I B Code, 2016, r/w Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016. VIII. The personnel of the Corporate Debtor shall extend all assistance and co-operation to the Liquidator as maybe required by him in managing the affairs of 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 maybe specified by the Board. Accordingly, the fees of the conduct of the liquidation proceedings shall be p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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