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TMI Blog2022 (1) TMI 1181X X X X Extracts X X X X X X X X Extracts X X X X ..... being IA (IB) No. 315 (KB) 2021 under sections 43, 45 and 66 for preferential, undervalued and fraudulent transactions. The Resolution Professional has given his consent to act as the Liquidator of the Corporate Debtor and has annexed with the application as Annexure - 5 . Section 33(1)(a) of the Code mandates that the Adjudicating Authority shall pass an order of liquidation where no resolution plan is received before the expiry of the CIRP. Sub-section (2) thereof requires the Adjudicating Authority to pass the liquidation order where the Resolution Professional intimates to the Adjudicating Authority the decision of the Committee of Creditors approved by not less than 66% of the voting share to liquidate the Corporate Debtor. R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d in Financial Express (English) and Ei Samay (Bengali) on 06/09/2019 inviting claims from the creditors on or before 17/09/2019 and CoC was duly formed on 24/09/2019. Form 'G' was published in Financial Express (English) and Aajkal (Bengali) on 14/11/2019. The last date for receiving Expression of Interest was mentioned as 02/12/2019. No Expression of Interests were received until that date. 4. Vide order dated 25/02/2020 this Adjudicating Authority has extended the CIRP period by 90 days from 25/02/2020. Vide order dated 26/03/2021 passed in IA/176(KB)2021, this Adjudicating Authority excluded 369 days from the CIRP period and further extended the CIRP period by 60 days thereby the CIRP period came to an end on 28/07/2021. 5 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct, however, to his possessing a valid Authorisation for Assignment (AFA) issued by the Insolvency Professional Agency (IPA) of which he is a professional member, in terms of regulation 7A of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2019. c. The Liquidator shall initiate liquidation process as envisaged under Chapter-III of the Code and the Insolvency Bankruptcy Board of India (Liquidation Process) Regulations, 2016. d. Public Notice shall be issued in the same newspapers in which advertisements were issued earlier, i.e., Financial Express (English) and Aajkal (Bengali) of Kolkata edition of the said newspapers stating that the Corporate Debtor is in liquidation. e. All the powers ..... X X X X Extracts X X X X X X X X Extracts X X X X
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