2021 (5) TMI 427

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....ation of the Corporate Debtor, viz., GM Agro Allied Private Limited [CIN: U01403WB2012PTC173737], on the ground that the no Resolution Plan received by him in spite of publication of Form G twice. 3. This Adjudicating Authority vide its order dated 08/11/2019 on a Petition filed by Shri Sanjay Agarwal, partner of Sri Laxmi Agro Products (operational creditor) under section 9 of the Insolvency and Bankruptcy Code, 2016 ('the Code') directed initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor and appointed Mr. Ajay Kumar Agarwal as the Interim Resolution Professional (IRP). Later vide order dated 23/01/2020 Shri Sachin Gopal Jathar was appointed as Resolution Professional (RP). The orders d....

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....ant duly conducted 4th, 5th, 6th, 7th, 8th, 9th and 10th CoC meetings respectively on 08/07/2020, 13/11/2020, 20/11/2020, 24/11/2020, 24/12/2020, 04/02/2021 and 22/02/2021, copies whereof are annexed with the application as Annexure - H, Annexure - I, Annexure - J, Annexure - K, Annexure - M, Annexure - O and Annexure - Q respectively. 8. Ld. Authorised Representative for the RP submits that at the 8th CoC meeting held on 24/12/2020, the CoC felt that Form G should be republished and accordingly the same was republished in "Business Standard" (English) and "Ek Din" (Bengali) on 26/12/2020 and the last date of submission was on 10/01/2021 but no EoI was received from any prospective resolution applicant. 9. An application u/s. 19(2) of....

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....nd there is no Resolution Plan for consideration of the CoC. The extended period of CIRP has expired on 25/02/2021. Therefore, there is no alternative but to order the liquidation of the Corporate Debtor. 16. This Bench, therefore, hereby orders as follows:- "a. IA No. 307/KB/2021 filed by Mr. Sachin Gopal Jathar, RP of GM Agro Allied Private 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; b. Mr. Sachin Gopal Jathar [Reg. No. IBBI/IPA-002/IP-N00640/2018-2019/11968], is hereby appointed as Liquidator as provided under section 34(1) of the Code, subject, however, to his possessing a valid Authorisation f....