9911796707
TMI Blog2021 (6) TMI 257X X X X Extracts X X X X X X X X Extracts X X X X ..... and Bankruptcy Code read with Rule 4 of Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules 2016 was admitted by this Tribunal on 19th November 2019 and Shri Manivannan J, IBBI/IPA-002/IP-N00534/2017-18/11695 was appointed as the Interim Resolution Professional. 3. The promotors of the CD approached the Hon'ble High Court of Kerala by filing WP(C) No. 32485 of 2019 challenging the CIRP initiated against the CD wherein the Hon'ble High Court ordered vide order dated 29.11.2019 that the promoters have to approach the Hon'ble NCLAT for further proceedings. Pursuant to that, the promoters approached the Hon'ble NCLAT by fling the Company Appeal (AT) Insolvency No.1509 of 2019, which was dismissed by the NCLAT vide ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... riod of 73 days and lock down period of 132 days from Corporate Insolvency Resolution Process and directed the RP to complete the CIR Process on or before 11.12.2020. (d) Vide order dated 19.01.2021 in IA/225/KOB/2020 in TIBA/19/KOB/2019 90 days more time was allowed for completing the CIR Process prescribing the due date of CIR Process closure as 11.03.2021. 7. The RP submitted that consequent to the Advertisement published on 15.09.2020 in two newspapers, viz: Indian Express (English) and Deshabhimani (Malayalam), he has received an Expression of Interest from a Resolution Applicant M/s "Celestial Garden Owners Association". The said Resolution Applicant is the Home buyers of the Atlas Gold Township India Pvt Ltd-the Corporate Debtor ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... meeting was held on 09/03/2021 to consider the revised resolution plan. In the 10th CoC 100% of Home buyers having voting right of 3.91% agreed for the agenda item resolution plan submitted by M/s Celestial Garden Owners (Home buyers Association) circulated along with the agenda. COC member South Indian Bank having voting share of 96.09% did not favour (Voted against) the revised resolution plan submitted by the resolution applicant and favoured for liquidation of the company as a going concern. 11. The 10th CoC meeting held on 09.03.2021 has also resolved with 96.09% voting to appoint the existing RP as the liquidator. 12. The consent of the Resolution Professional to accept appointment as the Liquidator for Liquidation of the Corporate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r is passed: ORDER (i) The Corporate Debtor M/s.Atlas Gold Townships (India) Pvt Ltd is hereby put under liquidation with immediate effect under Section 33(2) of IBC, 2016. (ii) The Resolution Professional CA Mr. Jasin Jose FCA, IBBI/IPA-001/IP-P000695/2017-2018/11225 of M/s Atlas Gold Townships (India) Pvt Ltd, XI/305H, Near Federal Bank, Opp. Cochin International Airport, Vappalassery, Nedumbassery, Angamally 683572, Kerala, India is hereby appointed as Liquidator of the Corporate Debtor. (iii) The Liquidator is directed to adhere to Section 33(1) (ii) & (iii) and discharge his powers and duties as specified under Section 35 to 41 of IBC, 2016 and meticulously adhere to the Rules and Regulations issued by IBBI in this regard from t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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