2021 (11) TMI 465

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.... the instructions of the Committee of Creditors (CoC) seeking liquidation of the Corporate Debtor, viz., Mohan Motors Udyog Private Limited [CIN: U50300WB1986PTC041458], on the ground that no resolution plan was approved by the Committee of Creditors ('CoC'). The Applicant has sought for the following reliefs: a. "Pass an order under section 33(2) of the Insolvency & Bankruptcy Code, 2016 for liquidation of the Corporate Debtor i.e. Mohan Motors Udyog Private Limited. b. Pass an order for appointment of liquidator in respect of the Corporate Debtor; c. Pass such further and other orders and directions as the nature and circumstances of the case may require and as this Hon'ble Tribunal may deem fit and ....

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....n Applicants submitted the documents and made payment of Earnest Money Deposit. Only one Resolution Plan was received from Highpoint Vintrade Private Limited. 8. The Resolution Plan received from Highpoint Vintrade Private Limited, which was presented and opened before the CoC in the 6th CoC meeting and was discussed from the 7th CoC meeting to 13th CoC meeting. The Resolution Plan was put up for e-voting on the 13th CoC meeting held on 15.06.2021. 9. The Resolution Plan was not approved by the CoC. In the 15th CoC meeting held on 07.07.2021, the CoC resolved to liquidate the Corporate Debtor and the same was approved by 85.97% voting share Page 140 of the I.A. 10. Hence, the RP has filed an application under section 33 of the Code....

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....I/IPA-001/IP-P02380/2021-2022/13564, email id. [email protected] is hereby appointed as Liquidator is hereby appointed as Liquidator as provided under section 34(1) of the Code, subject, however, to his possessing a valid Authorisation for Assignment (AFA) issued by the Insolvency Professional Agency (IPA) of which he is a professional member, in terms of regulation 7A of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016. c. The Liquidator shall initiate liquidation process as envisaged under Chapter-III of the Code and the Insolvency & Bankruptcy Board of India (Liquidation Process) Regulations, 2016. d. Public Notice shall be issued in the same newspapers in which advertisement....