9911796707
TMI Blog2021 (12) TMI 344X X X X Extracts X X X X X X X X Extracts X X X X ..... 4% voting share to liquidate the Corporate Debtor. There is no purpose in directing the RP to collate the claim. The claimant can now file the claim with the Liquidator afresh in accordance with the Liquidation Process Regulations. Therefore, the present application becomes infructuous, and is dismissed as such. - I.A. No. 22/2021 and IA No. 308/2021 in C.P. (IB) No. 356/ALD/2019 - - - Dated:- 29-11-2021 - Rajasekhar V.K., Member (J) And Virendra Kumar Gupta, Member (T) For the Appellant : Rishab Tripathi, Advocate ORDER Rajasekhar V.K., Member (J) 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) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ate debtor. In the present application, the RP has given his written consent to act as liquidator which is placed at page 102 of the present application. He is stated to have a valid authorisation for assignment. 6. Hence, the RP has filed an application under section 33(2) of the Code, before the Adjudicating Authority for liquidation of the Corporate Debtor. 7. Section 33(2) of the Code enjoins the Adjudicating Authority to pass an order for liquidation of the Corporate Debtor where the resolution professional, at any time during the CIRP but before confirmation of the resolution plan, intimates the Adjudicating Authority of the decision of the CoC approved by not less than sixty-six percent of the voting share, to liquidate the Cor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rsons, shall cease to exist in accordance with section 34(2) of the Code. All these powers shall henceforth vest in the Liquidator. f. The personnel of the Corporate Debtor are directed to extend all assistance and co-operation to the Liquidator as required by him in managing the liquidation process of the Corporate Debtor. g. On initiation of the liquidation process but subject to section 52 of the Code, no suit or other legal 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. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t. Ltd. seeking direction for the RP to admit the claim filed by it. 10. In view of the order passed in IA No. 22/2021 supra, there is no purpose in directing the RP to collate the claim. The claimant can now file the claim with the Liquidator afresh in accordance with the Liquidation Process Regulations. Therefore, the present application bearing IA No. 308/2021 becomes infructuous, and is dismissed as such. The applicant is at liberty to file its claim before the liquidator in the liquidation process. 11. In the result, IA No. 22/2021 is allowed and IA 308/2021 stands dismissed and disposed of. 12. The Registry is directed to send e-mail copies of the order forthwith to all the parties and their Ld. Counsel for information and fo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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