2019 (7) TMI 1906

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....tha Barua, Advocate, Mr. Parveen Kumar Mehdiratta, Advocate O R D E R This appeal has been filed by 'Kautilya Industries Private Limited', one of the 'Resolution Applicants' against the order dated 15th February, 2019 passed by the Adjudicating Authority (National Company Law Tribunal), Jaipur, whereby application under Section 33(2) of the Insolvency and Bankruptcy Code, 2016 ("I&B Code" for short) filed by the 'Resolution Professional' for liquidation of 'M/s. Parasrampuriya Synthetic Limited'- ('Corporate Debtor') has been approved. 2. Learned counsel appearing on behalf of the Appellant submitted that the order of liquidation was passed on the ground that 270 days have already been comple....

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....again re-consider one or other revised plan purported to have been submitted by the Appellant a week prior to 270 days. 5. The record shows that the Hon'ble High Court of Judicature for Rajasthan, Bench at Jaipur, by impugned order dated 27th September, 2018 passed order of winding-up in Company Petition No. 28/1999 and an 'Official Liquidator' was appointed to take over the possession of the assets. No order of prohibition was made specifically prohibiting the 'Committee of Creditors' not to consider the 'Resolution Plan'. 6. On 3rd January, 2019, the Hon'ble High Court of Judicature for Rajasthan, Bench at Jaipur, taking into consideration the fact that the 'Resolution Professional' has been a....