2021 (1) TMI 1189

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....Kumar Sarangi, Member (T) For the Appearing Parties : Saurabh Kalia, Kanvi Nagpal, Advs. And Sanjay Kumar Singh ORDER Counsel for R1 is present. R2 appeared in person. It is an application filed u/s 33(2) of IBC based on the resolution passed by the CoC with 96.7% voting on the ground the Corporate Debtor has only a land situated at Ghaziabad and this Corporate Debtor has not been w....

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....orporate Debtor, accordingly the RP filed this Application proposing liquidation of the Corporate Debtor. It is also pertinent to mention that RP having given consent to be appointed as a Liquidator, the same has been filed along with this application for appointment of RP as Liquidator. In view of the reasons aforementioned stating that company has not been working since long and the Directors....

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....btor, as the case may be, shall cease to have effect and shall be hereby vested in the liquidator. The Personnel of the Corporate Debtor are directed to extend all co-operations to the liquidation as may be required in managing the affairs of the Corporate Debtor. The Insolvency Professional appointed as liquidator will charge fees for conduct of the liquidation proceedings in proportion to the va....