9911796707
TMI Blog2021 (1) TMI 1189X X X X Extracts X X X X X X X X Extracts X X X X ..... THAT:- Though this Company Petition was admitted on 03.01.2020, for the application for appointment of Authorized Representative remained pending for long time, the RP could not get home buyers approval until before 2nd CoC meeting. Of late the AR being appointed, the CoC held meeting on 12.12.2020 and e-voted on with 96.7% approval on 14.12.2020 for liquidation of the Corporate Debtor, according ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... peared in person. It is an application filed u/s 33(2) of IBC based on the resolution passed by the CoC with 96.7% voting on the ground the Corporate Debtor has only a land situated at Ghaziabad and this Corporate Debtor has not been working since long and the last Balance Sheet i.e., found in the MCA Portal is for the year 2012-2013. The Corporate Debtor Directors are also not traceable. In vi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sent to be appointed as a Liquidator, the same has been filed along with this application for appointment of RP as Liquidator. In view of the reasons aforementioned stating that company has not been working since long and the Directors of the company are also not traceable, we are of the view that the CoC has taken a right decision proposing for liquidation of the Corporate Debtor, therefore we ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ons to the liquidation as may be required in managing the affairs of the Corporate Debtor. The Insolvency Professional appointed as liquidator will charge fees for conduct of the liquidation proceedings in proportion to the value of the liquidation estate assets as specified under regulation 4 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 and the same shal ..... X X X X Extracts X X X X X X X X Extracts X X X X
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