9911796707
TMI Blog2019 (9) TMI 1547X X X X Extracts X X X X X X X X Extracts X X X X ..... :- 3-9-2019 - CH. MOHD SHARIEF TARIQ AND ANIL KUMAR B, JJ. For Applicant : Mr. A.G.Sathyanarayana, Counsel ORDER CH. MOHD SHARIEF TARIO, J. This relates to MA/854/2019 filed in CP/1211/1B/2018 that has been filed by Mr. Mahalingam Suresh Kumar (hereinafter referred to as Resolution Professional) under Section 33(2) of the Insolvency and Bankruptcy Code, 2016. 2. The prayers made by the Applicant in the Application are as follows: a) Pass an order requiring the Corporate Debtor to be liquidated in the manner as laid down in Section 33(1)(a) of Chapter III of I B Code, 2016. b) Appoint the Resolution Professional Mr. Mahalingam Suresh Kumar as Liquidator of the Corporate Debtor. c) Pass such further or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erest (Eor) as per Section 25(2)(b) of the I B Code, 2016 vide publication dated 14.05.20 19 for submission of the Resolution Plans from the prospective Resolution Applicants by mentioning the last date for submitting the Resolution Plan as 02.06.2019. It is further stated that the Resolution Professional as such has not received any Resolution Plan from the prospective Resolution Applicants. 7. It is further stated that the Corporate Debtor is not carrying on any business for the last 2 years. The Company is not fetching any income. There was no Resolution Plan from prospect Resolution Applicants. The time period of 180 days of CIR Process was expired on 27.07.2019 8. In the 4% CoC Meeting held on 29.07.20 19, the Resolution Profess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ivate Limited which shall be conducted in the manner as laid down in Chapter III of part II of the 1 B Code, 2016; II. This Authority hereby appoints Mr. Mahalingam Suresh Kumar as Company Liquidator as has been proposed by the CoC, who shall issue a public announcement stating therein that the Corporate Debtor is in liquidation; III. The moratorium declared under Section 14 of the I B Code, 2016, shall cease to have effect from the date of the order of liquidation; IV. Subject to Section 52 of the I B Code, 2016, no suit or other legal proceedings shall be instituted by/or against the Corporate Debtor. However, a suit and other legal proceedings may be instituted by the Liquidator, on behalf of the Corporate Debtor, with the prior ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
