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TMI Blog2022 (3) TMI 276X X X X Extracts X X X X X X X X Extracts X X X X ..... ngs of the Corporate Debtor from the date of passing of this order and further directs the stakeholders to pay fee to the liquidator as prescribed in regulation 4 of the Liquidation process. Application disposed off. - I.A. No. 5653/2020 in (IB)-49 (PB)/2017 - - - Dated:- 21-2-2022 - Bhaskara Pantula Mohan, Member (J) And Hemant Kumar Sarangi, Member (T) For the Appellant : Azeem, Adv. For the Respondents : Abu John Mathew, Adv. ORDER Bhaskara Pantula Mohan, Member (J) 1. The present application is being filed by Mr. Satish Kumar Mathur (hereinafter referred to as the Applicant/Liquidator ), for seeking direction/order for extension of liquidation process of the Corporate Debtor. 2. The Applicant states that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted that he has already conducted the e-auction for the purpose of selling the assets of the corporate debtor, but even after 9th E-auction, one asset of the corporate debtor, being the shop premises despite reducing the reserve price, has remained unsold. Further it is submitted by the applicant that as per the order dated 21.08.2020 he was allowed to sell the aforementioned unsold asset through a Private Sale. 5. Thereafter the applicant has made his best efforts to get the buyers for the unsold asset and released classified advertisements in Hindustan Times and Mint on 24.10.2020 and 25.10.2020 as well as purchased the Diamond Plan of Magic Bricks portal, to give wide publicity to the unsold assets. 6. The applicant has received ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g as liquidation process, due to which the applicant is not able to dissolve the Corporate Debtor as per the provisions of IBC, 2016 IBBI (Liquidation Process) Regulations, 2016. 10. Additionally, the applicant herein submits that the applicant being liquidator had so far received a total fee of ₹ 3,76,857/- plus GST by selling the other assets of the corporate debtor and distributing the realized amount since last two years, the last sale of an asset was on 08.07.2019 and as per Regulation 4 of the Liquidation Regulation the liquidator is entitled to a fee as a percentage of the amount realized net of other liquidation costs and of the amount distributed which is 1.88% on realization and 0.94% on distribution of unsold asset to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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