9911796707
TMI Blog2021 (9) TMI 745X X X X Extracts X X X X X X X X Extracts X X X X ..... mited, is also not a going concern, with no employees, and huge accumulated losses - Since there is no other option other than to pass an Order for liquidation of the Corporate Debtor, we are inclined to invoke Section 33 of Chapter-III of the Insolvency Bankruptcy Code, 2016, ordering liquidation of the Corporate Debtor, namely, Mohan Motors Distributors Private Limited, as laid down in this Chapter. The Corporate Debtor is ordered to be liquidated - Application allowed. - Company Application IA/478/(KB)/2021 in Company Petition CP (IB) No. 1694/KB/2019 - - - Dated:- 3-8-2021 - Rajasekhar V.K., Member (J) And Harish Chander Suri, Member (T) For the Appellant : Shaunak Mitra, Advocate and Party-in-Person For the RP : Kama ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... idate the Corporate Debtor and requested the Resolution Professional to act as the Liquidator of the Corporate Debtor. In the said meeting, it approved the fee of the Liquidator, as per law, as is specified under Regulation 39D. At the same time, the CoC, with majority voting share of 88.35%, also resolved to sell the Corporate Debtor, as a going concern, as specified under Regulation 39C. 5. In terms of Regulation 3 of The Liquidation Process Regulation, 2016, read with Section 34 of the Insolvency Bankruptcy Code, 2016, the Resolution Professional of the Corporate Debtor in CIRP, is eligible to be appointed as the Liquidator of the Corporate Debtor, if Order for Liquidation is passed by this Tribunal. The Resolution Professional has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Insolvency Bankruptcy Code, 2016, ordering liquidation of the Corporate Debtor, namely, Mohan Motors Distributors Private Limited, as laid down in this Chapter. 10. The Application filed by Shri Kamal Agarwal, RP of Mohan Motor Distributors Pvt. Ltd. (the Corporate Debtor), is hereby allowed and the Corporate Debtor is ordered to be liquidated, amongst following Orders: i) Shri Kamal Agarwal, Resolution Professional, IBBI/IPA-001/IP-P00868/2017-2018/11466, Mobile Number - 9811138823, e-mail ID: [email protected] is appointed as the Liquidator; ii) Shri Kamal Agarwal is directed to issue Public Announcement in terms of Regulation 12 of the IBBI(Liquidation Process) Regulations, 2016; iii) The Order of moratori ..... X X X X Extracts X X X X X X X X Extracts X X X X
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