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TMI Blog2019 (2) TMI 1992X X X X Extracts X X X X X X X X Extracts X X X X ..... the corporate debtor M/s Mahabir Techno Limited is allowed to be liquidated - Application allowed. - CA No. 120/2019 in CP (IB) No. 70/Chd/Hry/2018 - - - Dated:- 22-2-2019 - R.P. Nagrath, J. (Member (J)) and Pradeep R. Sethi, Member (T) For the Applicant/ Resolution Professional: 1) Mr.Saurabh Bhardwaj, Advocate 2) Mr.Vinod Kumar Mahajan, Resolution Professional Per: R.P. Nagrath, Member (Judicial): ORDER (Oral) CA No.120/2019: This application has been filed by the Resolution Professional under Sections 33(1)(b) (i), (ii), (iii) and 33 (2) of the Insolvency and Bankruptcy Code, 2016 (for short to be referred here-in-after as the Code) seeking order of liquidation in respect of the corporate debtor Mahabir Tech ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... C. Minutes of the meeting are at Annexure RP-1. CoC being of the view that company was closed and there was no business activity therefore, the calling of the resolution will not serve any purpose. The CoC thereafter resolved that the corporate debtor be liquidated with 100% voting share. 6. We have heard the learned counsel for the Resolution Professional and perused the record. 7. Section 33(1) (2) reads as under:- 33. (1) where the Adjudicating Authority, - (a) before the expiry of the insolvency resolution process period or the maximum period permitted for completion of the corporate insolvency resolution process under section 12 or the fast track corporate insolvency resolution process under section 56, as the case may ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ss under[Chapter II, shall subject to submission of a written consent by the resolution professional to the Adjudicating Authority in specified form] shall act as the liquidator for the purposes of liquidation unless replaced by the Adjudicating Authority under sub-section (4)]. 9. In this case the Resolution Professional has furnished his consent as at Annexure RP-2 giving all the necessary particulars and has shown his willingness to be appointed as Liquidator. 10. In view of the above, we order the liquidation of the corporate debtor M/s Mahabir Techno Limited and appoint Mr. Vinod Kumar Mahajan, Resolution Professional as the Liquidator for the purposes of liquidation of the corporate debtor in terms of Section 33 (2) of the Code ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n the liquidator; and (v) That the personnel of the Corporate Debtor shall extend all assistance and cooperation to the Liquidator as may be required by him in managing the affairs of the Corporate Debtor and provisions of Section 19 of the Code shall apply in relation to voluntary liquidation process as they apply in relation to liquidation process with the substitution of references to the liquidator for references to the Interim Resolution Professional. 12. The Liquidator shall publish public announcement in accordance with Regulation 12 of the Liquidation Process Regulations, 2016 and in Form B of Schedule II of these Regulations within five days from receipt of this order calling upon the stake holders to submit their claims as o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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