2022 (8) TMI 177

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....Professional (RP) of Salasar Enterprises Private Limited seeking Liquidation Order and appointment of the Applicant/RP as liquidator, based on the resolution passed by the CoC in its 5th meeting held on 15.03.2021 with a requisite majority as contemplated under the Code. 2. This Adjudicating Authority vide its order dated 15.10.2020 on a Petition filed by Hirfal Interiors (Operational Creditor) under section 9 of the Code directed initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor and appointed Ms. Nishi Jain as the Interim Resolution Professional (IRP) of the Corporate Debtor. 3. The Applicant submitted that during the course of CIRP as many as 5 CoC meeting were held. Pursuant to the initia....

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....ed any response for the Information Memorandum and Letter of Undertaking from the two responses as received from EoI published. Hence, it was decided and agreed by the members of the CoC as there being no prospect of any Resolution Plan, it would be viable to liquidate the Corporate Debtor Company. 9. Thus, in the 5th CoC meeting held on 15.03.2021, the CoC with 100% voting share passed a Resolution for liquidation of the Corporate Debtor and to appoint the Applicant Ms. Nishi Jain, to act as liquidator. Further, the fees of the Liquidator will be paid as approved by the CoC. The relevant extract of the resolution passed in its 5th CoC meeting are as follows :- "RESOLVED THAT consent of the Members of the CoC of the Corporate De....

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....shi Jain as Liquidator having [Reg. IBBI/IPA-001/IPP01662/ 2019-20/12664], having its address at A-102, Krishna Tower, Ashok Nagar, Kandivali East, Mumbai - 400101, as Liquidator in terms of section 34(1) of the Code. d. The fees of the liquidator to be paid as approved by the CoC. e. The Liquidator shall initiate the liquidation process as envisaged under Chapter-III of the Code and the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016; f. Whenever the Liquidator issues any publication in the newspapers, the said shall be published in widely circulated newspapers in the State in which the Registered office of the Company is incorporated. g. Public Notice shall be issued in ....