2019 (6) TMI 907

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....ous Application by the Liquidator are as follows:- a. To take on record the Preliminary and Final Report prepared and submitted by the Liquidator/Applicant herein; b. To pass appropriate Orders or Directions to the Respondent 1 Company/Secured Creditors/ Stakeholders to pay the Liquidation Cost including the Liquidator Remuneration; c. To pass Order for Dissolution of the "Company under Liquidation" as the affairs of the Company is completely wound up. d. To pass such other Orders as this Hon'ble Bench, Chennai may deem fit and proper. 3. Originally, TCP/319/IB/2017 came to be filed by M/s. IFFCO Tokio General Insurance Co. Ltd., being Financial Creditor, under Section 7 of the I&B Code, 2016. The Application was admitted on 1....

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...., one of the CoC members' viz., the State Bank of India has preferred an Appeal against the Order of this Authority dated 26.10.2017. The Hon'ble NCLAT vide order dated 06.03.2018 directed the State Bank of India to pay the Fees to the IRP and get the amount reimbursed by the CoC to the extent the amount as is ratified by the Committee. 7. It is further stated that on the basis of CoC's Resolution dated 17.04.2018, this Authority vide its Order dated 22.06.2018 ordered for Liquidation of Corporate Debtor viz., M/s. SKC Retail Limited under Section 33 of Insolvency and Bankruptcy Code, 2016 and appointed the Applicant as the Liquidator. 8. The Liquidator has received a claim for an amount of Rs. 29,98,046/- from Employees Provi....

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....the statutory documents and information available in the MCA. 11. It has been stated by the Applicant that Liquidation cost including the remuneration to the Liquidator is Rs. 3,10,931/- (Rupees Three Lakhs Ten Thousand Nine Hundred and Thirty One only) and suitable directions may be given for payment of the Liquidation Costs by the Stakeholders as there are no assets available in the Corporate Debtor to realize the Liquidation Costs. 12. The Final Report dated 28.01.2019 filed by the Liquidator provides that during the CIR Process and during Liquidation process, no bank account was opened or operated or maintained and no current account transaction or bank account operation was carried out. It further provides that the Corporate Debtor c....