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TMI Blog2021 (1) TMI 507X X X X Extracts X X X X X X X X Extracts X X X X ..... n application before this Adjudicating Authority for appointment of the RP, in terms of Section 22(3)(b) of the Code. This has not been done. The CIRP cannot move forward unless this step is taken, as all such duties as are listed in section 25 of the Code are required to be carried out by the RP. The CoC is directed to immediately, and not later than 30 days from the date of this Order, convene a meeting and pass a resolution for appointing a Resolution Professional, and file an application before this Adjudicating Authority for the appointment of the proposed RP in terms of section 22(3)(b) of the Code - All fees due and payable to the IRP, as agreed to in the CoC, shall be paid forthwith. - I.A. No. 262 of 2020 in C.P. (IB) No. 340/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Corporate Debtor and found there is no office on 11.06.2020. She also visited another entity Born 12 Jeans LLP situated at #22, Bellary Road, Ganganagar Bangalore, which have common Directors, on 30.06.2020 and found that the place of business is closed. Even after the calls were made repeatedly to all the Directors for meeting, there was no response given except saying they will call back. (4) It is stated that she has not received a single claim except the claim of Petitioner in response to Public Announcement. Consequently, the Petitioner is the only member of CoC representing 100% of voting power. Petitioner is operating from Pune City and on account of restrictions owing to Covid-19 Pandemic, all the meetings were scheduled v ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Code and the relevant Regulations. It is stated that the professional fees of IRP is partially paid and an amount of ₹ 91,000/- is still due. (9) Second and third meetings of the CoC was called for on 14.07.2020 and 17.07.2020 respectively to facilitate the appointment of RP. However, CoC Member did not respond to video calls. Therefore, the instant application has been filed seeking a direction to the CoC Member to appoint the RP by replacing the existing IRP, etc. 3. Heard Ms. Medha Kulkarni, learned IRP/Applicant through Video Conference. We have carefully perused the pleadings of the party and extant provisions of the Code and the Rules made thereunder. 4. As per the orders of this Tribunal dated 02.06.2020, initiatin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e IRP by filing an application before this Adjudicating Authority for appointment of the RP, in terms of Section 22(3)(b) of the Code. This has not been done. The CIRP cannot move forward unless this step is taken, as all such duties as are listed in section 25 of the Code are required to be carried out by the RP. 7. Hence, in exercise of the powers conferred under Rule 11 of the NCLT Rules, 2016 R/w Section 60(5) of the Code, I.A. No. 262 of 2020 in C.P. (IB) No. 340/BB/2019 is hereby disposed of as under: (1) The CoC is directed to immediately, and not later than 30 days from the date of this Order, convene a meeting and pass a resolution for appointing a Resolution Professional, and file an application before this Adjudicating Auth ..... X X X X Extracts X X X X X X X X Extracts X X X X
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