2022 (1) TMI 569

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....uidation of the Corporate Debtor, viz., B.D. Motors Limited [CIN: U34103WB2009PLC133634], on the ground that the CIRP period has expired and no resolution plan was received by the Committee of Creditors ('CoC'). The Applicant has sought for the following reliefs: a. To pass an order requiring the Corporate Debtor to be liquidated in accordance with law b. To pass an order confirming the appointment of your Petitioner by the committee of creditors of the corporate debtor as the liquidator of the corporate debtor. c. Ad-interim orders in terms of prayers above; d. Such further order or orders, direction or directions be passed as to this Hon'ble Tribunal may deem fit and proper. 3. This Adjud....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....engali) (Kolkata edition), newspapers. The last date of submission of EOI was 19.02.2021. It is submitted that the RP received no EOI's. 7. It is submitted that the Committee of Creditors, in the 9th COC meeting held on 20th November, 2021, approved the decision to liquidate the Corporate Debtor and appointment of Mr. Bimal Kanti Choudhury as the liquidator with 100% vote. 8. Hence, the RP has filed an application under section 33(1) of the Code, before the Adjudicating Authority for liquidation of the Corporate Debtor on expiry of the CIRP period. 9. The Applicant/Resolution Professional, Mr. Bimal Kanti Choudhury [Reg. No. IBBI/IPA-001/IP-P01028/2017-2018/11682], has agreed to act as liquidator to carry on the process of liqu....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e same newspapers in which advertisements were issued earlier, i.e., Business Standard (English) and Anandabazar Patrika (Bengali) (Kolkata edition), stating that the Corporate Debtor is in liquidation. e. All the powers of the Board of Directors, and of key managerial persons, shall cease to exist in accordance with section 34(2) of the Code. All these powers shall henceforth vest in the Liquidator. f. The personnel of the Corporate Debtor are directed to extend all assistance and co-operation to the Liquidator as required by him in managing the liquidation process of the Corporate Debtor. g. On initiation of the liquidation process but subject to section 52 of the Code, no suit or other legal proceeding shall be....