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TMI Blog2021 (5) TMI 427X X X X Extracts X X X X X X X X Extracts X X X X ..... ad with sub-section (1) thereof. - IA No. 307/KB/2021 in CP (IB) No. 37/KB/2019 - - - Dated:- 15-4-2021 - Rajasekhar V.K., Member (J) And Harish Chander Suri, Member (T) For the Appellant : Arun Gupta, PCS and Sachin Gopal Jathar, RP For the Respondents : Saptarshi Banerjee, Advocate ORDER Rajasekhar V.K., Member (J) 1. This court convened via video conference today. 2. This is an application filed by the Resolution Professional seeking liquidation of the Corporate Debtor, viz., GM Agro Allied Private Limited [CIN: U01403WB2012PTC173737], on the ground that the no Resolution Plan received by him in spite of publication of Form G twice. 3. This Adjudicating Authority vide its order dated 08/11/2019 on a Petiti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 6. Upon approval from the CoC, invitation for EoI was published in Form 'G' on 22/01/2020 in Business Standard (English) and Dainik Statesman (Bengali) and the last date of submission of EoI was on 06/02/2020. However, no EoI was received in response to the invitation published. Copy of the minutes of the 3rd CoC meeting and copy of Form G as published by the IRP are annexed with the application as Annexure - F and Annexure - G respectively. 7. The applicant duly conducted 4th, 5th, 6th, 7th, 8th, 9th and 10th CoC meetings respectively on 08/07/2020, 13/11/2020, 20/11/2020, 24/11/2020, 24/12/2020, 04/02/2021 and 22/02/2021, copies whereof are annexed with the application as Annexure - H, Annexure - I, Annexure - J, Annexure ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... od from 24/03/2020 to 15/10/2020 on account of COVID-19 pandemic as well as extension of CIRP period by a further period of 90 days w.e.f. 28/11/2020 thereby the CIRP period has come to an end on 25/02/2021. 14. We have considered the submission made by the Ld. Authorised Representative for the Resolution Professional, the applicant herein, and perused the record. 15. This is a case where no Resolution Plan has been received in spite of publication of Form G twice and there is no Resolution Plan for consideration of the CoC. The extended period of CIRP has expired on 25/02/2021. Therefore, there is no alternative but to order the liquidation of the Corporate Debtor. 16. This Bench, therefore, hereby orders as follows:- a. IA N ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n managing the liquidation process of the Corporate Debtor. g. On initiation of the liquidation process but subject to section 52 of the Code, no suit or other legal proceeding shall be instituted by or against the Corporate Debtor save and except the liberty to the liquidator to institute suit or other legal proceeding on behalf of the Corporate Debtor with prior approval of this Adjudicating Authority, as provided in section 33(5) of the Code read with its proviso. h. In accordance with section 33(7) of the Code, this liquidation order shall be deemed to be a notice of discharge to the officers, employees and workmen of the Corporate Debtor except to the extent of the business of the Corporate Debtor continued during the liquida ..... X X X X Extracts X X X X X X X X Extracts X X X X
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