9911796707
TMI Blog2021 (6) TMI 167X X X X Extracts X X X X X X X X Extracts X X X X ..... ) "To order for the Liquidation of the Corporate Debtor as per Section 33(1) of the IBC, 2016 and in terms of the decision taken in the 4th COC Meeting of the Corporate Debtor held on 31.03.2021;. b) To appoint the Applicant i.e. Mr. Shyam Arora, Insolvency Professional having Regn. No. IBBI/IPA-02/IP-N00546/3017-2018/11703, as the Liquidator if the Hon'ble Tribunal so desires to Liquidate Corporate Debtor in terms of the IBC, 2016 and with IBBI (Liquidation Process) Regulations, 2016; and c) Pass any other/further order(s) as this Hon'ble NCLT deems fit in facts and circumstances of the matter." 2. To put succinctly, the facts of the case are that the Operational Creditor, M/s. Vandana Motors had filed an Application bearing N ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ant that the 4th meeting of the CoC held on 31.03.2021 took note of the fact that no resolution Applicant has come forward pursuant to publication of the Form 'G' twice and passed the Resolution recommending Liquidation of the CD. 8. That after observing some discrepancies and deficiencies in the Application, certain clarifications including as to how the resolution passed by the CoC in its 4th meeting recommencing Liquidation of the Corporate Debtor was in terms of Section 33(2) of IBC 2016, were asked from the Applicant on 17.05.2021. The Applicant was further directed to bring on record the Liquidation value of the Corporate Debtor as well as the Publications made in Form A and Form G. 9. That in response to the clarifications ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in favour of the Liquidation of the CD in the 4th meeting of the COC held on 31.03.2021. It is stated by them that they participated in the 4TH Meeting of COC through VC and voted on the resolution recommending Liquidation of the CD and for appointing applicant/RP as the Liquidator. They have further declared that they have signed the relevant physical voting sheets. 14. That the relevant voting sheets (page 28 & 35) approving the Item no 8 recommending Liquidation of the CD and signed by the members of COC as annexed to the Application are reproduced below- Voting sheet as per Regulation 24(4) of IBBI (CIRP) Regulations 2016 in the Fourth Meeting of the COC of M/s. On Dot Courier and Cargo Ltd. held on Wednesday, 31st March, 2021 at 3.0 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion Number (IBBI/IPA-002/IP-N00546/3017-18/11703), is appointed as Liquidator, who has given his written consent to act as Liquidator in terms of Section 34 (1) of IBC 2016; b. The Liquidator, is directed to issue public announcement clearly stating that the Corporate Debtor is under Liquidation in terms of Regulation 12 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016; c. The Order of Moratorium passed under Section 14 of the Insolvency 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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