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TMI Blog2021 (11) TMI 465X X X X Extracts X X X X X X X X Extracts X X X X ..... oC has resolved by 85.97% voting share to liquidate the Corporate Debtor. The Corporate Debtor is ordered to be liquidated in terms of section 33(2) of the Code read with sub-section (1) thereof - Application allowed. - I.A. (IB) No. 700/KB/2021 in C.P. (IB) No. 1617/KB/2019 - - - Dated:- 8-10-2021 - Rajasekhar V.K., Member (J) And Harish Chander Suri, Member (T) For the Appellant : Vikram Wadehra, Vidushi Chokhani, Soumava Ghosh, Advocates and Surendra Kumar Agarwal, Resolution Professional ORDER Harish Chander Suri, Member (T) 1. This court convened via video conferencing. 2. This is an application filed by the Resolution Professional upon the instructions of the Committee of Creditors (CoC) seeking liquidation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... BI. 5. The Committee of Creditors ('CoC') was duly constituted with seven financial creditors and the Report certifying the constitution of the CoC dated 29.06.2020 was filed with the Adjudicating Authority. 6. The first meeting of the CoC was held on 08.07.2020 wherein the CoC confirmed the appointment of the IRP as the RP. The Applicant states that the publication for invitation of EoIs in Form G was done on 23.09.2020 in Business Standard (English) and Aajkal (Bengali) (Kolkata edition) newspapers. The last date of submission of EOI was 13.10.2020. 7. It is submitted that the RP received ten EOI's, but only two Prospective Resolution Applicants submitted the documents and made payment of Earnest Money Deposit. Only o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ates the Adjudicating Authority of the decision of the CoC approved by not less than sixty-six percent of the voting share, to liquidate the Corporate Debtor. In the present case, the CoC has resolved by 85.97% voting share to liquidate the Corporate Debtor. 15. This Bench, therefore, hereby orders as follows:- a. Prayers as sought for in I.A. (IB) No. 700/KB/2021 filed by Mr. Surendra Kumar Agarwal, RP of Mohan Motor Udyog Private Limited, the Corporate Debtor, is allowed and the Corporate Debtor is ordered to be liquidated in terms of section 33(2) of the Code read with sub-section (1) thereof; b. Mr. Abhit Kumar Singh, Regn. No. IBBI/IPA-001/IP-P02380/2021-2022/13564, email id. [email protected] is hereby appointed as Liq ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l proceeding shall be instituted by or against the Corporate Debtor save and except the liberty to the liquidator to institute suit or other legal proceeding on behalf of the Corporate Debtor with prior approval of this Adjudicating Authority, as provided in section 33(5) of the Code read with its proviso. i. In accordance with section 33(7) of the Code, this liquidation order shall be deemed to be a notice of discharge to the officers, employees and workmen of the Corporate Debtor except to the extent of the business of the Corporate Debtor continued during the liquidation process by the Liquidator. j. In terms of section 33(1)(b)(iii), the Liquidator shall file a copy of this Order with the Registrar of Companies, West Bengal, K ..... X X X X Extracts X X X X X X X X Extracts X X X X
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