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TMI Blog2020 (1) TMI 1564X X X X Extracts X X X X X X X X Extracts X X X X ..... Puneet Singh Bindra and Akash Singh, Advocates ORDER L.N. Gupta, Member (T) 1. This is an application filed by Sh. Mohan Lal Jain, the Resolution Professional of M/s. Kaliber Associates Pvt. Ltd. under Sections 33(1)(a) and 33(2) of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred as the Code ) for seeking the following 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the Ld. RP that: 17 The advertisement inviting EOI in Form-G was duly published by the Applicant in two newspapers on 02.08.2019 and also hosted on the website of the Corporate Debtor and the IBBI. Pursuant to the same, one Sumanglam Infratech along with Joint Applicant, Strategy Investors, Partners, Experts, Nominee had made an enquiry through email dated 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.. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the CoC by 73.10% of votes. The RP submits that since neither any Expression of Interest nor any Resolution Plan has been received, there is no other alternative left except to seek liquidation of the Corporate Debtor. It has also been brought to the notice of this Bench that the CIRP period has expired on 15.11.2019. 12. That the Ld. RP has also submitted his written consent 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 App ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation commencement date as per Regulation 13 of the Insolvency and Bankruptcy (Liquidation Process) Regulations, 2016. g. The Registry is directed to communicate a copy of the Order to the Financial Creditor, the Corporate Debtor and Liquidator at the earliest but not later than seven days from today. A copy of this Order be also sent to the ROC for updating the Master Data. After updating the Master Data, ROC shall send compliance report to the Registrar, NCLT. h. The Registry is directed to communicate this Order to the Registrar of Companies, NCT of Delhi Haryana and to the Insolvency and Bankruptcy Board of India; 15. C.A-1524/C-II/(ND)/2019 filed in IB-228(ND)/2018 is disposed-off in the aforesaid terms. - - TaxTMI - TMI ..... X X X X Extracts X X X X X X X X Extracts X X X X
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