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TMI Blog2021 (12) TMI 679X X X X Extracts X X X X X X X X Extracts X X X X ..... For the Appellant : Party-in-Person ORDER Hemant Kumar Sarangi, Member (T) 1. The present application is being filed by the Liquidator, under Section 54 of the Insolvency and Bankruptcy Code, 2016 ('I & B Code'), r/w Regulations 44 and 45 of IBBI (Liquidation Process) Regulations, 2016, for the purpose of dissolution of the Corporate Debtor ("CD"). 2. The Applicant states that the ori ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vailable. The applicant also sent written communication to the said Authorities and copies of duly acknowledged letters have been attached along with the application. 4. The Applicant states that it has received only one claim from the Financial Creditor ("FC") having a total claim amount of Rs. 2,72,75,946/- (Rupees Two Crore Seventy Two Lakhs Seventy Five Thousand Nine Hundred Forty Six Only). ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ded to sell the sole Property i.e., Residential Property of M/s. MCCL Petrochem Ltd. (Under Liquidation) through Private Sale in favour of joint names of three individuals i.e., Mr. Som Prakash Bansal, Mr. Manoj Kumar Bansal and Ms. Neeru Bansal. 7. That the Liquidator has received the total payment of Rs. 2,90,00,000/- (Rupees two crore Ninety Lakhs Only), from the buyer(s) of the immovable Prop ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... such corporate debtor. (2) The Adjudicating Authority shall on application filed by the liquidator under sub-section (1) order that the corporate debtor shall be dissolved from the date of that order and the corporate debtor shall be dissolved accordingly. (3) A copy of an order under sub-section (2) shall within seven days from the date of such order, be forwarded to the authority with which ..... X X X X Extracts X X X X X X X X Extracts X X X X
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