2021 (6) TMI 1018

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....tion 33 r.w. Section 34 of the Insolvency & Bankruptcy Code, 2016 (hereinafter referred to as "IBC, 2016"). 2. The facts, in brief, are that the Corporate Debtor was admitted into Corporate Insolvency Resolution Process (hereinafter referred to as "CIRP") by this Authority vide order dated 08.12.2020 in CP (IB) No. 635/9/NCLT/AHM/2019 filed under Section 9 of IBC, 2016. CIRP commenced on 08.12.2020. The IRP made public announcement inviting submission of claims on 11.12.2020, wherein the last date for submission of claims was 23.12.2020. Only one claim was filed by Operational Creditor to the tune of Rs. 5,25,000/-. Committee of Creditors (hereinafter referred to as "COC") was formed comprising one unsecured Operational Creditor having 1....

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....CIRP) Regulations, 2016. The sole member of COC has also resolved to contribute to the costs of liquidation. The name of the RP has been proposed by the applicant in the present application whose name has already been approved by COC to act as liquidator. Hence the proposed RP/applicant is appointed to act as a liquidator. 4. In view of above facts and applicable legal position, IA 311/2021 stand allowed. ORDER I. As per the Section 34(1) of the LB. Code, the Applicant/Resolution professional, Ms. Bhavi Shrevans Shah, having Registration No. IBBI/IPA-001/IP-P00915/2017-18/11521 is hereby appointed as a Liquidator of the Corporate Debtor company M/s. Bansal Shipping Private Limited, which has been duly approved by COC in its m....

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....ating Authority as mentioned in Sub-Section 6 of Section 33 of the LB. Code. VIII. The Liquidator shall co-ordinate with all the authorities and the respected Government Authorities and shall provide complete information to facilitate the process of Liquidation. IX. The Liquidator is at liberty to seek any directions, if need be from this Tribunal during the Liquidation Process. X. The Liquidator shall take necessary legal action to recover the trade receivables and other credits such as loans and advances from the parties which are reflected in the latest balance sheet of the Corporate Debtor, if any. This direction is hereby given in concurrence of the jurisdiction prescribed under Section 33(5) of the Code. ....