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TMI Blog2019 (9) TMI 1436X X X X Extracts X X X X X X X X Extracts X X X X ..... d Chocklingram Thirunavukkarasu, Member (T) For the Appellant : Akshat Khare, Advocate ORDER Manorama Kumari, Member (J) 1.1 CP(IB)No. 248/2018 was filed by the Proprietor of M/s. Western Pharma under section 9 of the Insolvency and Bankruptcy Code, 2016 hereinafter referred to as IB Code, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authorities) Rules, 2016 seeking reliefs under section 9 of the IB Code in respect of M/s. Osaka Pharmaceuticals Private Limited, a company having its registered office at Ahkarba, Dist. Baroda treating as a Corporate Debtor. 1.2 This Adjudicating Authority admitted the said CP(IB) No. 248/2017 on 10.10.2018 and appointed Shri Hiten M. Parikh, as the Interim ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted into failure of resolution process. 6. It is submitted that RP called 6th meeting of CoC on 06.07.2019 seeking direction of CoC for initiation of liquidation proceedings by filing application before NCLT, Ahmedabad. The CoC under agenda item No. 08 approved filing of an application liquidation before the NCLT and proposed the name of RP as Liquidator in the present case. 7. Accordingly, as per the decision of meeting of CoC taken in its 6th meeting, the RP addressed a letter dated 8th July, 2019 to this Bench inter alia giving his consent and willingness to act as the Liquidator in the present matter and filed the instant with the following prayers: (a) To pass an order for liquidation of Corporate Debtor M/s. Osaka Pharmaceut ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... process of sale of the assets of the Corporate Debtor Company will be according to the provisions contained in Chapter VI of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016. In case it is not concluded within this period, the order of this Tribunal directing the sale of the Corporate Debtor Company as a going concern shall stand set aside and Corporate Debtor Company to be liquidated in the manner as laid down in chapter III of the Liquidation Process as provided in IB Code. b) The Liquidator is further directed to issue public announcement stating that the Corporate Debtor is in liquidation. c) It is also ordered that copy of the order be sent to the Registrar of Companies with which the Corpo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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