9911796707
TMI Blog2020 (11) TMI 847X X X X Extracts X X X X X X X X Extracts X X X X ..... It is also to be noted that this Adjudicating Authority has no jurisdiction to interfere in the commercial wisdom of the CoC as observed in K. Sasidhar's case [ 2019 (11) TMI 731 - SUPREME COURT ]. The Adjudicating Authority passes an order for initiation of liquidation of the Corporate Debtor viz., Neuromed Imaging Centre Private Limited - Application allowed. - Manorama Kumari, Member (J) And Chocklingram Thirunavukkarasu, Member (T) For the Appellant : Pavan S. Godiawala, Advocate ORDER Manorama Kumari, Member (J) 1. The Applicant, Resolution Professional (hereinafter referred as RP ) of the Corporate Debtor filed the instant IA No. 491 of 2020 in the aforesaid Company Petition (IB) No. 237 of 2018 for liquidation of the Corporate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd 180 days. The extension order of 90 days was passed on 10.02.2020. 2.5 It is stated by the Applicant that in the Sixth CoC meeting held on 17.02.2020, CoC resolved to go for Liquidation of the Corporate Debtor, as there is no possibility of receiving any Resolution Plan. Hence, CoC decided to file an application for Liquidation of the Corporate Debtor through RP under section 33 of the IB Code. 2.6 It is to be mentioned herein that due to typographical error, the date of the Sixth CoC meeting is shown as 17.01.2020. It may be read as 17.02.2020, in view of the additional affidavit filed by the Applicant. 3. Heard the applicant and also seen the records, it is found that there is no possibility of receiving any Resolution Plan. Therefore, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... idation. c) The Liquidator is required to send certified copy of this order to the authority with which the Corporate Debtor is registered. d) Subject to Section 52 of the IB Code, no suit or other legal proceedings shall be instituted by/or against the Corporate Debtor. However, a suit and other legal proceedings may be instituted by the Liquidator, on behalf of the Corporate Debtor, with the prior approval of this Authority. e) This Authority makes it clear that para (d) hereinabove shall not apply to legal proceedings in relation to such transactions as notified by the Central Government in consultation with any financial sector regulator. f) The Order shall be deemed to be a notice of discharge to the officers, employees and workmen of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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