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TMI Blog2021 (12) TMI 680X X X X Extracts X X X X X X X X Extracts X X X X ..... e Insolvency and Bankruptcy Code, 2016, seeking the following main reliefs: "1. Pass an order for the initiation of liquidation process of the corporate debtor i.e. Victory Infratech Private Limited, under Section 33(2) of the Insolvency and Bankruptcy Code, 2016. 2. Pass an order for the appointment of the Resolution Professional Mr. Aishwarya Mohan Gahrana, as the Liquidator of the Corporate Debtor under Section 34 of the Insolvency and Bankruptcy Code, 2016. 3. Pass such other orders/directions as this Hon'ble Adjudicating Authority may deem fit and proper in the facts and circumstances of the case....." 2. Facts of the case in brief are that the Financial Creditor, M/s. LIC Housing Finance Ltd. had filed an Application bearin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... discuss and consider the filing of an application with the Hon'ble National Company Law Tribunal, New Delhi bench under regulation 33(2) of IBC, 2016, for the initiation of liquidation and/or dissolution of the corporate debtor and to appoint the existing resolution professional as the liquidator and to fix the fee of liquidator thereof. The Committee discussed the liquidation and liquidation process in details. The Committee also discussed the impact of the liquidation on the Corporate Debtor and possibility of realization of remaining assets of the Corporate Debtor. The committee after discussion passed the following resolution unanimously: "RESOLVED THAT in pursuant to Section 33(2) of IBC 2016 and the Rules made thereunder, th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ations along with the following directions: a. Mr. Aishwarya Mohan Gahrana, having IBBI Registration No. IBBI registration Number (IBBI/IPA-002/IP-N00135/2017-18/10351, is appointed as Liquidator, who has given his written consent to act as Liquidator in terms of Section 34(1) of IBC 2016; b. The Liquidator, is directed to issue public announcement clearly stating that the Corporate Debtor is under Liquidation in terms of Regulation 12 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016; c. The Order of Moratorium passed under Section 14 of the Insolvency and Bankruptcy Code, 2016 shall cease to have its effect and a fresh Moratorium under Section 33(5) of the Insolvency and Bankruptcy Code shall co ..... X X X X Extracts X X X X X X X X Extracts X X X X
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