9911796707
TMI Blog2022 (5) TMI 1308X X X X Extracts X X X X X X X X Extracts X X X X ..... ocate ORDER Narender Kumar Bhola, Member (T) 1. This relates to IA- 1998/2022 filed in CP (IB) -2906/ND/2019 filed by Mr. Atiuttam Prasad Singh (hereinafter referred to as 'Resolution Professional') under Section 33(1) read with 60(5) of the Insolvency and Bankruptcy Code, 2016. The prayer made in the Application is to pass an order of liquidation pertaining to the Corporate Debtor (CD) viz., S.K.P.J. Investment Finance Pvt. Ltd. 2. Originally the captioned petition was admitted by this Adjudicating Authority vide Order dated 25.10.2021, the Corporate Insolvency Resolution Process (CIRP) was initiated of the Corporate Debtor and the applicant was appointed as Interim Resolution Professional (IRP) vide the same order ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... S.K.P.J. INVESTMENT AND FINANCE PVT, LTD. (Under CIRP) be and is hereby approved and to be liquidated in the manner as laid down in Insolvency and Bankruptcy Code, 2016. RESOLVED FURTHER THAT pursuant to the provisions of Section 34 and other applicable provisions of the Insolvency and Bankruptcy Code, 2016 and Rules and Regulations framed there under and other applicable provisions of the Companies Act, 2013 and Rules framed thereunder, Mr. Atiuttam Prasad Singh (IBBI Regn No. IBBI/IPA-001/IP-P01914/2019-2020/12914), be and is hereby appointed as the Liquidator for the purposes of liquidation of Corporate Debtor. RESOLVED FURTHER THAT pursuant to the provisions of Section 34 and other applicable provisions of the Insolvency and B ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed necessary or incidental thereto, for the purpose of giving effect to the winding up of the Company. 6. Since no resolution plan has been received by this Adjudicating Authority before the expiry of the maximum insolvency resolution process period and furthermore, the CoC has decided to liquidate the Corporate Debtor, therefore, the Corporate Debtor has to be ordered for Liquidation. ORDER 7. In view of the facts and circumstances recorded by Applicant in IA- 1998/2022 filed in CP (IB) -2906/ND/2019 and in exercise of powers conferred under Sub-Clauses (i) (ii) and (iii) of Clause (b) of Sub-Section (1) of Section 33 of the I B Code, 2016, this Authority proceeds to pass Liquidation Order as follows:- I. This Authority hereb ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Company Liquidator shall exercise the powers and duties as enumerated in Sections 35 to 50, 52 to 54 of the Insolvency Bankruptcy Code, 2016, r/w Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016. VII. The personnel of the Corporate Debtor shall extend all assistance and co-operation to the Liquidator as may be required by him in managing the affairs of the Corporate Debtor. VIII. The Liquidator shall be entitled to charge such fees for the conduct of the liquidation proceedings as resolved by the CoC in its 3rd meeting. IX. The Registry is directed to communicate this order with immediate effect to the concerned Registrar of Companies (ROC) with which the Corporate Debtor is registered, O ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
