9911796707
TMI Blog2019 (5) TMI 1910X X X X Extracts X X X X X X X X Extracts X X X X ..... Some parties filed title suit in the Civil Court at Alipore. This may be the reason that none submitted the plan. Be that as it may, no resolution plan is received by IRP and the CoC. Although, one M/s. Hotel Polo Torner Development has submitted Eol but no plan is received from them within 180 days. It appears from record that during CIRP, the IRP held eight CoC meetings. The CoC did not confirm his appointment as RP. The insolvency of the corporate debtor could not be resolved for want of resolution plan. CIRP period is already over. Hence, this authority has left with no option but to pass order of liquidation of the corporate debtor under section 33 of 1 B Code. Hence, proceed to pass an order requiring the Corporate Debtor to be li ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... RP took over management and affairs of the corporate debtor. He collected books of accounts and other financial papers. He found that the corporate debtor owns a flat bearing no.3E Premises No.3, Lower Rowdon Street, Kolkata. One, Mr. Rajesh Kumar Agarwal, son of Mr. Ram Jiban Agarwal was residing in that flat. According to the IRP, this flat is the asset of the corporate debtor (the fact is in dispute as various applications are filed by the Intervenors). 4. On 04.11.2018, IRP made public announcement about CIRP of the corporate debtor. He called upon the creditors of the corporate debtor to submit their claims with the proof on or before 18.11.2018. Public announcement was made by publishing notice in Financial Express (English) and Aa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... own. This authority made enquiry with the IRP whether he received any resolution plan but IRP submitted that there was no response from anybody. None has submitted even Eol. 8. It appears to me that there is dispute going on about the assets of the corporate debtor, i.e. residential flat. Some parties filed title suit in the Civil Court at Alipore. This may be the reason that none submitted the plan. Be that as it may, no resolution plan is received by IRP and the CoC. Although, one M/s. Hotel Polo Torner Development has submitted Eol but no plan is received from them within 180 days. 9. It appears from record that during CIRP, the IRP held eight CoC meetings. The CoC did not confirm his appointment as RP. The insolvency of the corpor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , 2016. 7. The Liquidator is directed to proceed with the process of liquidation in a manner laid down in Chapter III of the Insolvency and Bankruptcy Code, 2016. 8. Upon proceeding with the liquidation the Liquidator shall file a preliminary report as per regulation 5 read with Reg.13 of the IBBI(Liquidation) Regulations, 2016 at the registry within 75 days from the liquidation commencement date and continue to file progress reports as per Reg.15(1) within 15 days after the end of the quarter in which he is appointed. 9. The fee payable to the Liquidator shall form part of the liquidation cost as provided under Reg. 4(1) of the IBBI (Liquidation Process) Regulations, 2016. 10. Registry is hereby directed to communicate the orde ..... X X X X Extracts X X X X X X X X Extracts X X X X
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