9911796707
TMI Blog2021 (6) TMI 85X X X X Extracts X X X X X X X X Extracts X X X X ..... , Member (T) For the Appellant : Monaal J. Davawala, Advocate For the Respondents : Umesh Ved and Pavan S. Godiawala, Advocates ORDER Manorama Kumari, Member (J) 1. The instant application is filed under Section 60(5) of the Insolvency and Bankruptcy Code by the Applicant with the following prayers: (i). To order and direct the Respondent to conduct immediate forensic audit of the books of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the same for voting: I. To do forensic audit. II. To make an application for exclusion of litigation period with Hon'ble NCLT III. To issue fresh EOI. IV. To pass a resolution for Liquidation of the Company. 4. However, on voting the CoC has taken following decisions: I. No forensic audit is required to be done. II. No application be made to Hon'ble NCLT for exclusion of liti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ight to file further affidavit, if required. 8. The erstwhile RP submitted and alleged that the application is filed only with an arm twisting practice and for oblique motive. It is further submitted that the decisions for the liquidation was taken by the CoC is a final and the RP is bound by the decision of the CoC. 9. Gone through the records and also seen the reply filed by erstwhile RP. 10. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ided under Section 30 and 31 of IBC, which recently has been observed by the Hon'ble Supreme Court, in Kalparaj Dharamshi and another Vs Kotak Investment Advisors Ltd. and Ors and connected cases, referring to precedent such as Committee of Creditors of Essar Steel India Ltd. Vs. Satish Kumar Gupta and Others, Maharashtra Seamless Ltd. Vs. Padmanabhan Venkatesh and Others, K Sashidhar Vs. Indi ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
