2021 (10) TMI 539

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....e Corporate Debtor, 'Metro Management Services Private Limited'. 2. The facts in brief are that an application for Corporate Insolvency Resolution Process was preferred by the Financial Creditor, 'M/s. Dewdrops Mercantile Pvt. Ltd.', against Corporate Debtor, 'Metro Management Services Private Limited', under section 7 of IBC, 2016, on account of default. The Adjudicating Authority vide order dated 01.04.2021, admitted the said application and appointed the applicant Mr. Ashok Arora, as the Interim Resolution Professional of the Corporate Debtor. 3. The IRP issued a Public Announcement dated 09.04.2021 under Section 13 and 15 of the Insolvency and Bankruptcy Code, 2016, in daily newspaper 'Financial Express&#39....

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....ssional further submitted that, at the 2nd COC meeting held on 03.06.2021, the sole COC member decided and passed a resolution under section 33(2) for initiating the Liquidation process of the Corporate Debtor. 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 insolvency resolution process under section 56, as the case may he, does not receive a resolution plan under sub-section....

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....fessional holding registration no. IBBI/IPA-003/ICAI-N-00279/2020-21/13170, is appointed as Liquidator and has given his consent to act as the Liquidator, vide written communication dated 05.06.2021, 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. The Liquidator Mr. Ashok Arora is directed to take steps 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 Process) Regulations, 2016; c. The Registry is directed to communicate this Order to the Registrar of Companies, NCT of Delhi 85 Haryana and to the ....