2021 (8) TMI 950

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....er (T) For the Appellant : Sanjeev Kumar and Anshul Sehgal, Advocates ORDER R. Sucharitha, Member (J) 1. This Application is filed for passing an order of Liquidation in relation to the Corporate Debtor. The present order for Liquidation is passed in continuation of the dismissal order passed in MA/43(CHE)/2021 which was filed under Section 12A of IBC, 2016 seeking withdrawal of CIRP i....

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..... 328.21 Crore, however fails to disclose the Liquidation value under the pretext that it is confidential, which statement, we find paradoxical and not amenable to ordinary prudence. 3. Thus, as a consequence thereof, upon dismissal of MA/43(CHE)/2021, the Corporate Debtor is required to be ordered for liquidation as per Section 33(1)(a) of IBC, 2016. As per the latest list provided by the IBBI....

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....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 Regi....

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.... h) The Liquidator is directed to investigate the financial affairs of the Corporate Debtor in terms of the provisions of Section - 35(1) of IBC, 2016 read with relevant rules and regulations and also file its response for disposal of any pending Company Applications during the process of liquidation. i) The Liquidator shall submit a Preliminary report to this Tribunal within 75 (sev....