2019 (10) TMI 1450

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....d under Section 7 of IB Code, 2016 by the Financial Creditor ie., the Boon investment and Trading Company Private Limited against the Corporate Debtor, Excel Glasses Limited and appointed the applicant herein as the Interim Resolution Professional. In pursuance to the aforesaid order, the applicant has made announcement on 29.3.2019, in accordance with Section 15 of the Code in the newspapers Business Standard, Mangalam Daily, Free Press Journal and Navashakti Times and also on the website of the Institute of Chartered Accountants of India (ICAI) and an intimation was also sent to Insolvency and Bankruptcy Board of India (IBBI). The applicant has received claims from Financial and Operational Creditors on 30.06.2019. The applicant also....

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....n 10.06.2019 in Form-G under Regulation 36A (1) of the CIRP Regulations which was published in the Business Standard and Mangalam Daily Newspaper of Kerala edition. The public announcement was uploaded on the website of Corporate Debtor and the IBBI on 10.06.2019. The records of the proceedings were filed before the Tribunal on 10.06.2019. The applicant further called the 3rd meeting of the members of CoC on 21.06.2019. It was submitted in the meeting that the no Expression of Interest was received till the date of 3rd meeting and the members resolved to further extend the time frame for invitation of Expression of Interest to create better opportunities to attract prospective resolution applicants. The applicant further made a public an....

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....ankruptcy Rules, 2016, order passed by Hon'ble Chennai Bench of NCLT (Ann. 1), public announcement (Ann. 2), Minutes of the Frist CoC (Ext.3 (A)), Minutes of the Fourth CoC (Ext.3 (D) ), 6. Section 33(2) of the Insolvency and Bankruptcy Code 2016, which is as follows: "33. (1) Where the Adjudicating Authority, - (a) before the expiry of the insolvency resolution process period or the maximum period permitted for completion of the corporate insolvency resolution process under section 12 or the fast track corporate insolvency resolution process under section 56, as the case may be, does not receive a resolution plan under sub-section (6) of section 30; or (b) rejects the resolution plan under section 31 for the non-....