9911796707
TMI Blog2019 (3) TMI 1797X X X X Extracts X X X X X X X X Extracts X X X X ..... n disposed off. - C.A. 1006(PB) /2018 In Company Petition No. IB-178 (PB)/2017 - - - Dated:- 12-3-2019 - Chief Justice (Rtd.) M. M. Kumar Hon'ble President And Sh. S. K. Mohapatra Hon'ble Member (Technical) For the Applicant: Mr. Rahul Kumar, Advocate for RP Mr. K. G. Somani, RP in Person ORDER S. K. Mohapatra, Member 1. This is an application filed by the Resolution Professional under Section 33 (2) of Insolvency and Bankruptcy Code, 2016 (hereinafter referred as the Code ) for issuance of directions for liquidation of the corporate debtor, M/S Ram Dev International Limited. 2. The facts in brief are that one of the operational creditors, M/S Mussadi Lal Kishan Lal had filed an application bearing Compan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ess of liquidation, the item was put up for voting in the meeting. After, the voting the result was declared by the Chairperson. While 96.97% of the COC members voted in favour of the agenda item, one of the members of COC viz. IDBI with voting share of 3.03% abstained from the voting. The Resolution for initiating the liquidation process and Transaction Audit parallelly, was passed with majority one of 96.97%. Chairman mentioned though he did not concur the view of COC, however, in the light of the COC decision on the issue, the Resolution Professional would approach Hon'ble NCLT for appropriate direction/ instructions in this regard. 8. In the 11 th COC meeting held on 17.10.2018 name of Mr. Prabhjit Singh Soni having regi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cease to have its effect and that a fresh Moratorium under Section 33(5) of the Insolvency and Bankruptcy Code shall commence; e. This order is deemed to be a notice of discharge to the officers, employees and the workmen of the corporate debtor as per Section 33(7) of the Insolvency and Bankruptcy Code, 2016; f. The Liquidator is directed to proceed with the process of liquidation in a manner laid down in Chapter Ill of Part Il of the Insolvency and Bankruptcy Code, 2016 and in accordance with the relevant regulations. g. It is seen from the case record that there is a need to identify and recover the assets of corporate debtor stated to have lost in irregular transactions. Accordingly, the liquidator is directed to follow up and ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
