2020 (2) TMI 1652

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ra Brahma Rao Arekapudi, Member (T) For Appellant/Respondent: Party-in-Person DECISION 1. MA/05/KOB/2020 has been filed by the Interim Resolution Professional / Resolution Professional under Section 33(2) of the IBC, 2016. This Tribunal vide order dated 13.09.2019 in TIBA/1/KOB/2019 (IBA/74/2019 of NCLT Chennai Bench) ordered the Corporate Insolvency Resolution Process under Section 9 of ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ded directors, the following amounts are due from the following parties to the Corporate Debtor: Erixon Rs. 2,18,923.00 Mobi-Soft Rs. 3,40,320.00 Sabkaa Payments Limited Rs. 89,97,785.00 4. According to the RP, even after issuing notice, no response was obtained from the above parties. RP has also noted that Sabkaa Payments Limited is the subsidiary company of the Corporate De....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....7. Accordingly, the Resolution Professional vide MA/05//KOB/2019 submitted his report before this Bench with the following prayers: (i) To pass suitable orders to liquidate the Company under Section 33(2) of the IBC 2016; (ii) To appoint Resolution Professional as the Liquidator of the Company. (iii) To pass suitable orders under section 60(5) to Sabkaa Payments Limited,....