2022 (7) TMI 613

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.... of the Corporate Applicant, viz., Mayur Manpower Services Private Limited [CIN: U74910BR1997PTC007952], on the ground that the Corporate Applicant is not carrying on any business since the past three years. The Applicant has sought for the following reliefs: a. Allow the instant Application and pass an order of Liquidation of the Corporate Debtor. b. Appoint Mr. Anang Kumar Shandilya having IBBI registration no. IBBI/IPA-002/IP-N00882/2019-20/12826 as the Liquidator of the Corporate Debtor. 3. This Adjudicating Authority vide its order dated 11 February 2022 on a Petition filed by the Maurya Manpower Services Private Limited ("Corporate Applicant") under section 10 of the Insolvency and Bankruptcy Code, 2016 ('the Code') direc....

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..... 6. Hence, the RP has filed an application under section 33(2) of the Code, before the Adjudicating Authority for liquidation of the Corporate Debtor on expiry of the CIRP period. 7. The Applicant/Resolution Professional, Mr. Anang Kumar Shandilya [Reg. No. IBBI/IPA-002/IP-N00882/2019-20/12826], has agreed to act as liquidator to carry on the process of liquidation and given his consent to act as Liquidator, in terms of section 34(1) of the Code. 8. We have considered the submission made by the learned Counsel on behalf of the Applicant/RP and perused the record. 9. Section 33(2) of the Code enjoins the Adjudicating Authority to pass an order for liquidation of the Corporate Applicant before the confirmation of Resolution Plan, where t....

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....xtend all assistance and co-operation to the Liquidator as required by him in managing the liquidation process of the Corporate Debtor. g. On initiation of the liquidation process but subject to section 52 of the Code, no suit or other legal proceeding shall be instituted by or against the Corporate Debtor save and except the liberty to the liquidator to institute suit or other legal proceeding on behalf of the Corporate Debtor with prior approval of this Adjudicating Authority, as provided in section 33(5) of the Code read with its proviso. h. In accordance with section 33(7) of the Code, this liquidation order shall be deemed to be a notice of discharge to the officers, employees and workmen of the Corporate Debtor except to the exten....