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TMI Blog2021 (6) TMI 851X X X X Extracts X X X X X X X X Extracts X X X X ..... lution Professional at any time during the CIRP but before confirmation of Resolution Plan approaches the Adjudicating Authority with the decision of the COC approved by not less than sixty six percent of the voting share, the Adjudicating Authority shall pass a liquidation order. In this case the CoC with 100% voting right approved the resolution for liquidation of the Corporate Debtor. Hence this is a fit case to order liquidation under Section 33(2) of the IBC, 2016. The Corporate Debtor M/s. Moonriver Resorts Private Limited is hereby put under liquidation with immediate effect under Section 33(2) of IBC, 2016 - application allowed. - IA(IBC)/77/KOB/2021 in IBA/17/KOB/2020 - - - Dated:- 16-6-2021 - Ashok Kumar Borah, Member (J) A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nformation memorandum was made available to CoC with available information,. It is further stated that the IRP was not able to trace out any records on visit of the so called registered office, hence he could not take control of the business records. However, he obtained the bank account details and updated bank transaction records which are available with the auditors, Third CoC was conducted on 29th December, 2020 in which it was resolved to form opinion only on obtaining the audited financial statements.. That CoC also approved to issue EOI and accordingly Form G was published on 31.12.2020 but no expression of interest was received. The 4th and 5th CoCs were held on 3.2.2021 and decided to issue fresh Form G. Even though fresh Form G wa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... held on 3rd May, 2021. 4. We have heard the learned Resolution Professional, who appeared in person through video conferencing and had gone through the records placed on record. The learned Interim Resolution Professional has clearly stated in his application the reasons for seeking a direction for liquidation of the Corporate Debtor. The Interim Resolution Professional has produced the 6th and 7th CoC resolutions. In the 6th meeting of the COC it was resolved with 100% voting right to liquidate the Corporate Debtor M/s. Moonriver Resorts Private Limited and in the 7th CoC it was resolved to appoint the Interim Resolution Professional Shri K.T. Mathew as the Liquidator. 5. In this respect, it is relevant to reproduce Section 33(2) of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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