2021 (9) TMI 680

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....Appellant : Aniruth Purusothaman, Advocate ORDER Narender Kumar Bhola, Member (T) 1. The present Application is filed by the Applicant under Section 33(2) of the Insolvency and Bankruptcy Code, 2016 (the Code) seeking liquidation of the Corporate Debtor. 2. This Tribunal by order dated 17.09.2019 admitted the captioned Petition under Section 9 of the Code and initiated Corporate Insolvency Res....

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.... order dated 08.01.2021, rejected the Application for withdrawal (IA No. 3595 of 2019) under Section 12A of the Code, as two claims from the financial creditors were received and admitted by the Applicant and also as Form FA was not accompanied by a Bank Guarantee as mandated under Regulation 30A(2) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Person....

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....ting. 7. In the 3rd meeting of the CoC held on 14.06.2021 (adjourned to 17.06.2021), the suspended director of the Corporate Debtor, Mr. Prakash Chandan, intervened and requested the CoC to rethink upon the decision to liquidate the Corporate Debtor. However, the CoC unanimously rejected the said request and resolved to liquidate the Corporate Debtor and appoint Mr. Ashish Vyas as the liquidator.....

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....ed in the manner as laid down in Chapter-III of the Code with the following directions: a) Mr. Ashish Vyas having Registration No. IBBI/IPA-001/IP/P-01520/2018-2019/12267 is appointed as Liquidator. He shall be entitled to fees in terms of Section 34(8) of the Code read with Regulation 4(2) of the IBBI (Liquidation Process) Regulations, 2016 (the Regulations). b) The Liquidator shall issue pub....