2020 (1) TMI 1564

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..... main reliefs: "(i) Pass an order for liquidation of the Corporate Debtor (Kaliber Associates Pvt. Ltd.) in accordance with Section 33(1) and 33(2) of the code." "(ii) Appoint the Applicant, Mohan Lal Jain, an Insolvency Professional, IBBI Registration No. IBBI/IPA-002/IP-N00006/2016-17/10006 as Liquidator of the Corporate Debtor in accordance with Section 34 of the Code." 2. Facts of the case in brief are that the Financial Creditor, Relan Buildwell Pvt. Ltd. filed an application bearing No. IB-228/(ND)/2018 under Section 7 of the Code for initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, M/s. Kaliber Associates Pvt. Ltd. The said application was admitted by this Tribunal vide Order dated 18.01. .....

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..... 09.08.2019 and requested for eligibility norms, format of EOI and other documents for submission of EOI for the Corporate Debtor and accordingly the Applicant had sent the requested documents through email dated 12.08.2019 to prospective resolution applicant, however, the Applicant did not receive any EOI from M/s. Sumanglam Infratech or any other prospective resolution applicant..." 8. That the Resolution Professional had sought extension of the CIR period, which was extended till 15.11.2019 by this Tribunal vide Order dated 23.09.2019. 9. That the RP had extended the last date for submission of Expression of Interest by 31.10.2019 and Resolution Plan by 10.11.2019 again through publication of Form-G on 25.10.2019. 10. It is further sub .....

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..... sent to act as Liquidator in compliance of Section 34(1) of IBC 2016. 13. That the provisions of Section 33(l)(a)(i) make it amply clear that if no Resolution Plan is received within the statutory timeline stipulated under Section 12 of the IBC 2016, it is mandatory for this Tribunal to Order Liquidation of the Corporate Debtor. 14. In sequel to the above, the Application is allowed, ordering Liquidation of the Corporate Debtor, M/s. Kaliber Associates Private Limited in the manner laid down in the Chapter III of Part II of the Insolvency and Bankruptcy Code, 2016 and in accordance with the relevant Rules and Regulations along with the following directions: a. Mohan Lal Jain, an Insolvency Professional, IBBI Registration No. IBBI/IPA-00 .....

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