2020 (2) TMI 1003

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.... ready on 22nd August, 2019 and handed over to the Appellant on 6th September, 2019. The appeal was thereafter preferred on 14th October, 2019 and thereby there is delay of only about 6 days in preferring the appeal. Having heard learned counsel for the Appellant and being satisfied with the grounds, the delay of 6 days in preferring the appeal is hereby condoned. I.A. No. 3514 of 2019 stands disposed of. 2. The 'Corporate Insolvency Resolution Process' was initiated against 'M/s. Super Agri Seeds Pvt. Ltd.'- ('Corporate Debtor'). Finally, the 'Resolution Professional' having failed to complete the same within the time, the 'Corporate Debtor' was ordered to be liquidated. 3. In the liquidatio....

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.... Account of the Corporate Debtor. (ii) R6 is hereby directed to make good the loss caused to the Corporate Debtor by dumping Germ Plasm/Parent seed by paying the value of the same which is to be estimated by a competent valour to be appointed by the R2/Liquidator. However, from the liquidation value so arrived, amounts due to R6 by way of lease rentals from R1 shall be paid by R2." 6. Learned counsel appearing on behalf of the Appellant submitted that an 'Insolvency Resolution Professional' or Liquidator must maintain integrity by being honest, straightforward, and forthright in all his professional relationships and he should act with objectivity in his professional dealings by ensuring that his decisions are m....