2021 (9) TMI 1019

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....ef are that an application for Corporate Insolvency Resolution Process was preferred by Corporate Applicant 'J.V. Restaurant Private Limited' under Section 10 of the IBC on account of default. The Adjudicating Authority vide order dated 22.10.2019 admitted the said application and appointed Mr. Punit Handa, as the Interim Resolution Professional of the Corporate Debtor. 3. The IRP issued a Public Announcement dated 01.11.2019 under Section 13 and 15 of the Insolvency and Bankruptcy Code, 2016, in daily newspaper 'Jansatta' in Hindi and 'Financial Express' in Prescribed Form A, and invited claims from the creditors of the Corporate Debtor. On receiving the claims, the IRP constituted the CoC consisting of financial....

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....ed in 28.12.2020 by the suspended Directors, statutory Auditors and also by the Resolution Professional for discharging the Power of Board of Directors of the company which has been conferred upon Resolution Professional in terms of Section 17 of the code, has also been duly annexed with the present application. 8. This application has been filed as per the provisions of section 33 of IBC, 2016 of which the relevant sub-section 1 and 2 of section 33 is reproduced hereunder; "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 in....

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....d also in terms of Insolvency and Bankruptcy (Liquidation Process) Regulations, 2017 along with the following directions: a. Mr. Punit Handa, Resolution Professional holding registration No. IBBI/IPA-002/IP-N00298/2017-18/10857, has given consent to act as the Liquidator vide written communication dated 18.08.2021 and is, therefore, appointed as Liquidator under section 34 of the Insolvency and Bankruptcy code, 2016 read with Regulation 3 of Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016. b. Mr. Punit Handa is directed to issue Public Announcement stating that the corporate debtor is in liquidation, in terms of Regulation 12 of the Insolvency and Bankruptcy Board of India (Liquidation Proc....