9911796707
TMI Blog2021 (5) TMI 948X X X X Extracts X X X X X X X X Extracts X X X X ..... g. President and Hemant Kumar Sarangi, Member (T) For the Appellant : Navjit Singh, RP ORDER B.S.V. Prakash Kumar Actg. President 1. It is an IA/1978/2020 filed by RP u/s. 33(1)(a) of the Insolvency & Bankruptcy Code, 2016 ("the Code") by the Resolution Professional (RP) seeking liquidation order, as contemplated under I&B Code, 2016. RP has stated that the 180 days period of CIRP concerning t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Resolution Professional, the valuation cannot be possible. 3. It is submitted by the applicant that as no resolution plan has been called during the 180 days and extension for the for time limit of this CIRP as per section 12(2) was put before CoC for voting in the last CoC meeting. The voting as received on 12.03.2020, 66% positive vote has not been received from CoC members as mandate for it. H ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vency and Bankruptcy Code, 2016 shall cease to have its effect and a fresh Moratorium under Section 33(5) of the Insolvency and Bankruptcy Code shall commence; d. This order shall be deemed to be a notice of discharge to the officers, employees and the workmen of the corporate debtor as per Section 33(7) of the Insolvency and Bankruptcy Code, 2016; e. The Liquidator is directed to proceed with ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
