2022 (5) TMI 1308

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...., 2016. The prayer made in the Application is to pass an order of liquidation pertaining to the Corporate Debtor (CD) viz., S.K.P.J. Investment & Finance Pvt. Ltd. 2. Originally the captioned petition was admitted by this Adjudicating Authority vide Order dated 25.10.2021, the Corporate Insolvency Resolution Process (CIRP) was initiated of the Corporate Debtor and the applicant was appointed as Interim Resolution Professional (IRP) vide the same order. 3. It is submitted that the IRP has performed his duties as per the IBC and applicable regulations and conducted 3 CoC meetings. It is stated that the applicant has received the claim from one financial creditor and CoC was constituted with sole FC of the Corporate Debtor. It is further....

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....ency and Bankruptcy Code, 2016 and Rules and Regulations framed there under and other applicable provisions of the Companies Act, 2013 and Rules framed thereunder, Mr. Atiuttam Prasad Singh (IBBI Regn No. IBBI/IPA-001/IP-P01914/2019-2020/12914), be and is hereby appointed as the Liquidator for the purposes of liquidation of Corporate Debtor. RESOLVED FURTHER THAT pursuant to the provisions of Section 34 and other applicable provisions of the Insolvency and Bankruptcy Code, 2016 and Regulation 4 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 and other Rules and Regulations framed thereunder, the Liquidator so appointed shall be entitled to receive the consolidated remuneration of INR 50,000 p....

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....he CoC has decided to liquidate the Corporate Debtor, therefore, the Corporate Debtor has to be ordered for Liquidation. ORDER 7. In view of the facts and circumstances recorded by Applicant in IA- 1998/2022 filed in CP (IB) -2906/ND/2019 and in exercise of powers conferred under Sub-Clauses (i) (ii) and (iii) of Clause (b) of Sub-Section (1) of Section 33 of the I&B Code, 2016, this Authority proceeds to pass Liquidation Order as follows:- I. This Authority hereby orders for liquidation of the Corporate Debtor (CD) viz., M/s. S.K.P.J. Pvt. Ltd. which shall be conducted in the manner as laid down in Chapter III of part II of the Insolvency & Bankruptcy Code, 2016; II. This Authority hereby appoints Mr. Atiuttam Prasa....