TaxTMI 
TaxTMI 
2022 (7) TMI 462
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....ber (Technical) IA No.152/2021 This is an application filed under Section 60(5) of the IBC, 2016. In the present application, Hemanshu Jetley (Liquidator) of Oswal Spinning and Weaving Mills Ltd. is the applicant, and Mr. Palwinder Singh Dhillon, Naib Tehsildar (Respondent No.1) and Mr. Mohit Singla, Patwari (Respondent No.2), are the respondents. 2. In the present application, the applicant prays to issue necessary directions to Respondent No.1 and Respondent No.2 for updation of the revenue records and for carrying out the demarcation of the subject property of the corporate debtor located at Village Jugiana, Ludhiana. 3. The brief facts as outlined in the application are that the liquidation proceedings were initiated against the cor....
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....gs of the corporate debtor, the Liquidator is unable to sell and release the subject land due to uncertainty as to the size of landholding. 4. Notices were issued to the respondent No.1 and 2 by order dated 23.04.2021 and the applicant has filed an affidavit of service by Diary No.00395/01 dated 07.04.2021 and Diary No.00395/02 dated 14.12.2021. It has been shown in the affidavit of service that the copy of the application through speed post as well as by email has been duly delivered to the respondent No.1 and 2. The applicant has again filed a compliance affidavit by Diary No.00395/4 dated 15.03.2022 wherein it has been stated that next date of hearing is duly sent to the respondent No.1 and 2 through e-mail. But none appeared on behalf ....
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....for the liquidation of the corporate debtor and to report the progress of the liquidation process in a manner as may be specified by the Board; 36. Liquidation estate:- (1) For the purposes of liquidation, the liquidator shall form an estate of the assets mentioned in sub-section (3), which will be called the liquidation estate in relation to the corporate debtor. (3) Subject to sub-section (4), the liquidation estate shall comprise all liquidation estate assets which shall include the following:- (a) any assets over which the corporate debtor has ownership rights, including all rights and interests therein as evidenced in the balance sheet of the corporate debtor or an information utility or records in the registry or any depos....