9911796707
TMI Blog2021 (10) TMI 1340X X X X Extracts X X X X X X X X Extracts X X X X ..... plan under sub-section (6) of section 30. Application filed by Mr. Mr. Pankaj Dhanuka, RP of Corporate Power Limited, the Corporate Debtor, is allowed and the Corporate Debtor is ordered to be liquidated in terms of section 33(2) of the Code read with sub-section (1) thereof - application allowed. - IA (IB) No. 431/KB/2021 in CP (IB) No. 23/KB/2019 - - - Dated:- 8-10-2021 - Shri Rajasekhar V.K., Member (Judicial) and Shri Harish Chander Suri, Member (Technical) For the Applicant : Mr. Avishek Swaroop, Advocate, Mr. Dwaipayan Basu Mallick, Advocate, Mr. Palash Agarwal, Advocate, Mr. Naman Jamdar, Advocate ORDER Per: Harish Chander Suri, Member (Technical) 1. This court convened via video conferencing. 2. This is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Corporate Insolvency Resolution Process ( CIRP ) against the Corporate Debtor and appointed Mr. Pankaj Dhanuka as the Interim Resolution Professional ( IRP ). The IRP was appointed as the Resolution Professional ( RP ). 4. The Applicant submits that in terms of section 15 of the Code, public announcement was made on 22.02.2020, in Financial Express (English) and Sanmarg (Hindi) (Jharkhand edition) and Morning India (English) and Aajkal (Bengali) (Kolkata edition) newspapers, fixing 05.03.2020 as the last date for submitting the claim. The public announcement was uploaded on the website of IBBI. 5. The Committee of Creditors (CoC) was duly constituted with eight financial creditors and the Report certifying the constitution of the CoC ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the CIRP period. 12. The learned Counsel on behalf of the Applicant submits that an appeal has been preferred against the order of admission, registered as C.A. (AT) (Ins.) No. 385 of 2020. The Hon ble NCLAT vide order1 dated 11.01.2021 passed an interim order as under ..... the approval of Resolution plan is subject to outcome of this appeal. The appeal has not been decided till date. 13. The Applicant/Resolution Professional, Mr Pankaj Dhanuka [Reg. No. IBBI/IPA-001/IP/P-01205/2018-2019/11911], has agreed to act as liquidator to carry on the process of liquidation and given his consent to act as Liquidator, in terms of section 34(1) of the Code and has a valid Authorisation for Assignment (AFA) issued by the Insolvency Pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Aajkal (Bengali) (Kolkata edition), stating that the Corporate Debtor is in liquidation. e. All the powers 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. f. 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. g. 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 proce ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
