2021 (1) TMI 507

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....king a direction to the Committee of Creditors represented by 100% voting power by Petitioner - M/s. Suryawanshi Garments LLP to appoint Resolution Professional replacing the IRP at the earliest or withdraw the application and pay the Professional charges for IRP balance amount of Rs. 91,000/-. 2. Brief facts of the case, as mentioned in the Application, which are relevant to the issue in question, are as follows: (1) The main Company petition filed by M/s. Suryawanshi Garments LLP under Section 9 of the IBC, 2016 R/w Rule 6 of the I&B (AAA) Rules, 2016 was admitted by this Adjudicating Authority, vide order dated 02.06.2020, by initiating CIRP, appointing Ms. Medha Kulkarni bearing Registration No. IBBI/IPA-001/IP-P00121/2017-2....

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.... Member was informed about the need of nominating Resolution Professional. (6) It is also stated that there is no trace of Promoters/Directors or key Managerial Persons and the Respondent had never appeared in spite of notice issued by the Adjudicating Authority. Further, there is no place of Business of the Company and also no Assets in the Company. (7) It is stated that the Statutory Audit for year ended 31.03.2016 has been completed however there is no Statutory Auditor on record as on date and the retiring Auditor has not given any NOC to the newly appointed auditor. Retiring Auditor has not got any request from newly appointed auditor for NOC as per the Code of Ethics of Institute of Chartered Accountants of India. Fu....

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....take expeditious steps to complete the CIRP within the stipulated time. 5. We find from the petition that the present IRP has carried out her duties like issue of public announcement and conducting of CoC meeting. However, she later expressed her intention of resignation as IRP and the same has been placed before the 1st COC meeting held on 07.07.2020 and accepted by it. She submits that the sole CoC Member, which was the Petitioner in C.P. (IB) No. 340/BB/2019, has not appointed the Resolution Professional till date. Due to the Pandemic, meetings take place on Google Meet. The Promoters/Directors or Key Managerial Persons and the Respondent are not traceable and are not responding or cooperating. Due to indecision of the COC there is no....