2020 (10) TMI 218

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..... e Application. Thus, there being no other alternative, the Ld. RP vide his application has prayed for allowing liquidation of the Corporate Debtor under Section 33 of the Code - Liquidation of the Corporate Debtor namely, M/s. Pawan Buildwell Private Limited is ordered in the manner as laid down in Chapter III of Part II of the Insolvency and Bankruptcy Code, 2016 - application allowed.
Ina Malhotra, Member (J) And L.N. Gupta, Member (T) For the Appellant : Kriti Krishanan For the Respondent : Arun Khatri, Advocates JUDGMENT L. N. Gupta, Member (T) 1. This is an application filed by the Resolution Professional under Sections 33(1)(a) and 33(2) of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred as the "Code" .....

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..... ost in the litigation and extended the period of CIR. 4. The Interim Resolution Professional constituted a Committee of Creditors (CoC), which comprise of only one Financial Creditor, namely Sh. Brij Mohan Sahni. 5. It is submitted by the Resolution Professional that only two claims were received, one from the Financial Creditor Mr. Brij Mohan Sahni and the other one from M/s. Bajaj Finance Limited. The claim of M/s. Bajaj Finance Limited was rejected by the RP. Being aggrieved, M/s. Bajaj Finance Limited filed a Company Application No. 367 of 2019 before this Bench. The same has been heard and decided by the Bench on 03.01.2020. 6. It is stated by the Resolution Professional that the last day for submission of Resolution Plan was 26.06. .....

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..... as prayed for allowing liquidation of the Corporate Debtor under Section 33 of the Code. 11. As a sequel to the above, the Application is allowed and Liquidation of the Corporate Debtor namely, M/s. Pawan Buildwell Private Limited is ordered in the manner as laid down in Chapter III of Part II of the Insolvency and Bankruptcy Code, 2016 along with the following directions : a. Mr. Arun Chadha having Registration No. IBBI/IPA-001/IP-POO 165/2017-18/10334 is appointed as Liquidator. He is directed to make a public announcement stating that the Corporate Debtor M/s. Pawan Buildwell Pvt. Ltd. is in Liquidation in terms of the Regulation 12 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016; b. The Order .....

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