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TMI Blog2022 (6) TMI 47X X X X Extracts X X X X X X X X Extracts X X X X ..... rtha Sharma and Shalini Basu , Advs ORDER 1. Ld. Authorised Representative for the RP present. RP is present in person. Ld. Counsel for respondent No. 1 in IA(IBC)/191(KB) 2022 present. 2. IA(IBC)/191(KB) 2022 - Ld. Counsel appearing for R-1, one of the suspended members of the Board of Directors of the Corporate Debtor, seeks permission to file reply affidavit. Let it be filed within two weeks with advance copy to the RP. List this matter on 21/06/2022. 3. IA(IBC)/384(KB) 2022 (a) This is an application filed by the RP seeking liquidation of the Corporate Debtor, viz., Dulichand Auto Sales Private Limited [CIN: U50200WB2013PTC193408] on the ground that no Resolution Plan received by him and the CoC at its 7th meeting he ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cation . RFRP, IM and EM were provided to the prospective Resolution Applicant. Application u/s. 19(2) was filed on 04/02/2022 and the matter was heard on 04/04/2022. Forensic Auditor was appointed on 11/03/2022, who submitted their Report on 04/04/2022. Application u/s. 43, 45 and 66 was also filed on 09/04/2022. (d) At the 7th CoC meeting held on 16/04/2022 Annexure 8 at pages A-80 to A-92 of the application , CoC has decided by 93% voting share for liquidation of the Corporate Debtor as the 180 days CIRP period will come to an end on 16/05/2022. (e) The Resolution Professional has expressed his willingness Annexure 9 at pages A-93 to A-95 of the application to act as a Liquidator of the Corporate Debtor. (f) We hav ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Board of Directors, and of key managerial persons, shall cease to exist in accordance with section 34(2) of the Code. All these powers shall henceforth vest in the Liquidator. (vi) The personnel of the Corporate Debtor are directed to extend all assistance and co-operation to the Liquidator as required by him in managing the liquidation process of the Corporate Debtor. (vii) On initiation of the liquidation process but subject to section 52 of the Code, no suit or other legal proceeding 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 provide ..... X X X X Extracts X X X X X X X X Extracts X X X X
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