2021 (5) TMI 474

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....ic Announcement stating that the Corporate Debtor is in Liquidation (iii) Notify such order to the Authority with which the Corporate Debtor is registered, the Registrar of Companies, Tamil Nadu (iv) To appoint the Interim Resolution Professional, Mr. CA S. Prabhu, as the Liquidator of the Corporate Debtor. (v) Pass such further or other orders as may deem fit and proper in the facts and circumstances of the case and thus render justice. (ii) and pass such other orders as deem fit and proper in the given circumstances of the case in the interest of justice. 2. In Section 9 application filed by the Operational Creditor against the Corporate Debtor viz., Abra Motors Private Limited, this Tribunal vide order dated 08.05.2020 initiated....

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....ent IRP, CA S. Prabhu be appointed as the Liquidator of the Corporate Debtor to manage the Liquidation process of the Corporate Debtor and the Liquidator fees be paid on mutually agreed basis along with applicable taxes. 4. Thereafter, it is seen that the 2nd CoC meeting was convened on 08.03.2021 through video conference and the remuneration which was payable to the Liquidator was fixed by the CoC and that the CoC has passed the following Resolution; "RESOLVED THAT under Regulation 39D of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, the Consolidated fee payable to the Liquidator for handling the entire process of liquidation (from order of liquidation to complete dissolution of the company) shall be ....

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....ent that the Corporate Debtor is in liquidation. In relation to officers/employees and workers of the Corporate Debtor, taking into consideration Section 33(7) of IBC, 2016, this order shall be deemed to be a notice of discharge. c) The Liquidator shall investigate the financial affairs of the Corporate Debtor particularly, in relation to preferential transactions/undervalued transactions and such other like transactions including fraudulent preferences and file suitable application before this Adjudicating Authority. d) The Registry is directed to communicate this order to the Registrar of Companies, Chennai and to the Insolvency and Bankruptcy Board of India; e) In terms of section 178 of the Income Tax Act, 1961, the Liquidator sha....