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TMI Blog2022 (5) TMI 1309X X X X Extracts X X X X X X X X Extracts X X X X ..... - Dated:- 18-5-2022 - Rohit Kapoor, Member (J) And Harish Chander Suri, Member (T) For Appearing Parties : Joy Saha, Sr. Adv., Shaunak Mitra, Vikash Singh, Sudha Singh, Pritesh Bansod, Supriyo Singh, Suchita Sharma, Shahriar Hossain, Sananda Ganguli, Arhat Biswas and Ishaan Saha, Advs ORDER Harish Chander Suri, Member (T) 1. This Tribunal convened via video conference. 2. This is an application filed by the Resolution Professional seeking liquidation of the Corporate Debtor, viz., Purple Advertising Services Private Limited [CIN: U74300WB2008PTC127335], on the ground that no Resolution Plan has been approved by the CoC and the CoC by 100% voting share approved liquidation of the Corporate Debtor. 3. This Adjudicati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion was filed on 19/03/2021 for extension of the said CIRP period by a further period of 30 days bearing filing No. 1908134/00731/2021. A copy of the minutes of the said CoC meeting dated 09/03/2021 is annexed with the application and marked as D . 10. At the 22nd CoC meeting held on 07/04/2021, the RP requested the CoC members to share their view on the said resolution plans. The CoC has observed some discrepancies in the revised resolution plan of M/s. Veekay Apartments Pvt. Ltd. and M/s. Veekay Apartments Pvt. Ltd. had duly made the required changes and submitted their revised plan. However, M/s. Bohoboss Entertainment Pvt. Ltd. did not submit any revised resolution plan. A copy of the minutes of the said 22nd CoC meeting is annexed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Liquidator of the Corporate Debtor. A copy of the said written consent along with authorisation of assignment of the applicant is annexed with the application marked as G . 16. We have considered the submission made by the Ld. Counsel appearing for the Applicant and perused the records. 17. This is a case where Resolution Plan, though received, but the same was not approved by the CoC., and the period of CIRP has expired. Therefore, there is no alternative but to order the liquidation of the Corporate Debtor. 18. This Bench, therefore, hereby orders as follows:- a. IA No. 543/KB/202 filed by Mr. Shyamal Kumar Bhattacharjee, RP of Purple Advertising Services Private Limited, the Corporate Debtor, is allowed and the Corporat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g shall be instituted by or against the Corporate Debtor save and except the liberty to the liquidator to institute suit or other legal proceeding on behalf of the Corporate Debtor with prior approval of this Adjudicating Authority, as provided in section 33(5) of the Code read with its proviso. h. In accordance with section 33(7) of the Code, this liquidation order shall be deemed to be a notice of discharge to the officers, employees and workmen of the Corporate Debtor except to the extent of the business of the Corporate Debtor continued during the liquidation process by the Liquidator. i. In terms of section 33(1)(b)(iii), the Liquidator shall file a copy of this Order with the Registrar of Companies, West Bengal, Kolkata, wit ..... X X X X Extracts X X X X X X X X Extracts X X X X
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