TaxTMI 
TaxTMI 
2021 (7) TMI 1179
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....n Subramaniam (IBBI/IPA- 001/IP-P01440/2018-2019/12316) as the Liquidator of the Corporate Debtor; (iii) Pass an order cessation of the moratorium declared under Section 14 of IBC; and (iv) Pass such other orders in the interest of justice; 2. In Section 7 application filed by the Financial Creditor against the Corporate Debtor viz., M/s. Nazar International Private Limited, this Tribunal vide order dated 13.12.2019 passed in IBA/635/2019 initiated the Corporate Insolvency Resolution Process (CIRP) in relation to the Corporate Debtor and appointed the Applicant herein as Interim Resolution Professional (IRP). 3. It is averred in the application that pursuant to the Applicant being appointed as IRP, he caused Public Announcement under ....
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....e Applicant has made a Public announcement in "New India Express", English and "Dinamani", Tamil on 26.09.2020, however the said publication has resulted in any party evincing interest. While this being the fact, the CoC in its 8th meeting held on 31.03.2021 had resolved to liquidate the Corporate Debtor and directed the Applicant to file an Application for Liquidation as per Section 33(2) of IBC, 2016 and accordingly, the present Application has been filed by the Applicant. 7. The Applicant has filed Form - H from which it is evident that the Fair value and Liquidation value in respect of the assets of the Corporate Debtor is arrived at Rs. 6.35 Crore and Rs. 5.50 Crore. Since the CoC in its 8th meeting held on 31.03.2021 after discussing....
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....tion 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 shall give necessary intimation to the Income Tax Departmen....