2022 (5) TMI 1045

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....poor, Member (J) And Harish Chander Suri, Member (T) For the Appellant : Udit Agarwal, Adv. and Party-in-Person ORDER Harish Chander Suri, Member (T) 1. This Tribunal convened via physical and video conference. 2. IA(IBC)/286(KB)2022, IA(IBC)/470(KB)2020 and IA(IBC)/154(KB)2021 are taken up together for consideration and are being disposed of by means of a single order. IA(IBC)/2....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....lution of the company, at the request of the Resolution Professional, an order of liquidation was passed vide order dated 09/11/2021 appointing the Resolution Professional, Mr. Neeraj Kejriwal, as a Liquidator. 5. Public announcement of commencement of liquidation was made in Form 'B' in "Financial Express" (English) and "Aajkal" (Bengali) on 16/11/2021 inviting proof of claims from the....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....tion Process) Regulations, 2016. 7. In compliance of regulation 13 of the IBBI (Liquidation Process) Regulations, 2016, the liquidator has filed Preliminary Report dated 28/02/2022 along with the "NIL" list of Stakeholder Consultation Committee. 8. The applicant submits that from the available assets of the Corporate Debtor, which is a commercial vehicle only, even the Liquidation Process Co....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... submits that in the aforesaid circumstances, no purpose would be served in continuing with the liquidation process and early dissolution of the Corporate Debtor u/s. 54 of the Code read with regulation 14 of the IBBI (Liquidation Process) Regulations, 2016 shall be passed. 12. In view of the above facts and circumstances, there is no impediment to the Corporate Debtor being dissolved, and it i....