2022 (4) TMI 204

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....tion of the Corporate Debtor-Empee Power Company (India) Limited under section 33(1)(a) of the Code; b) Permit/Appoint this Resolution Professional to Continue and act as the Liquidator to inter alia carry on the duties of Liquidation under Chapter-III of the Code; c) Pass orders directing the CoC to deposit the sum of Rs. 10,60,640/- as Liquidation Costs in the Liquidation Account of the Corporate Debtor on presentation of bill as resolved in the Minutes of the Meeting dated 07.12.2020; d) Pass Orders fixing the remuneration of the Liquidation as set out under Regulation 4(2) of the Insolvency & Bankruptcy Board of India (Liquidation Process) Regulation, 2016 and; e) Pass such other or further orders as ....

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....n Process) Regulations, 2016 and the Hon'ble NCLAT order dated 30.03.2020, 37 days was excluded from the CIRP and EOI was reissued on 26.07.2020. Irrespective of re-issuance of the EOI no resolution plan was received by the Applicant. The Ld. Counsel submitted that prospects of revival of the Corporate Debtor was bleak thus in accordance to the 11th COC meeting it was resolved to place the Corporate Debtor under liquidation. The 11th COC meeting minutes are placed as 'Annexure-D' to the Application typeset. 7. The Ld. Counsel for the Applicant submitted that as no resolution plan had been received by the Applicant during the Corporate Insolvency Resolution Process period it was unanimously resolved in the 11th COC meeting dat....

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....from the records that the Applicant herein has accorded the written consent, Form AA to act as the Liquidator of the Corporate Debtor and further the Applicant has also placed on record the Authorization for Assignment (AFA) issued by the Insolvency Professional Agency of Institute of Cost Accountants of India. 12. In the circumstances, Mrs. R. Lalitha with Reg. No. IBBI/IPA-001/IP-P00779/2017-2018/11352 (email id: [email protected]') is appointed as the Liquidator of the Corporate Debtor to carry out the liquidation process subject to the following terms of the directions:- a) The Liquidator shall strictly act in accordance with the provisions of IBC, 2016 and the attendant Rules and Regulations including Insolvency and....

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....f Part II of the Insolvency and Bankruptcy Code, 2016. h) The Liquidator is directed to investigate the financial affairs of the Corporate Debtor in terms of the provisions of Section-35(1) of IBC, 2016 read with relevant rules and regulations and also file its response for disposal of any pending Company Applications during the process of liquidation. i) The Liquidator shall submit a Preliminary report to this Tribunal within 75(seventy-five) days from the liquidation commencement date as per regulation 13 of the Insolvency and Bankruptcy (Liquidation Process) Regulations, 2016. Further such other or further report as are required to be filed under the relevant Regulations, in addition, shall also be duly filed by him wit....