2021 (8) TMI 1337

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.... - 1825 (PB) /2019 - -<br>Insolvency & Bankruptcy<br>&nbsp;SHRI. BHASKARA PANTULA MOHAN HON'BLE ACTG. PRESIDENT AND &nbsp;SHRI. HEMANT KUMAR SARANGI HON'BLE MEMBER (TECHNICAL) For the Applicant: Mr. Sanjeev Bindal, Resolution Professional. For the Respondent: Mr. Raunak Satpathy, Advocate. ORDER PER- BHASKARA PANTULA MOHAN ACTG. PRESIDENT 1. This is an application filed by the Resol....

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....corporate debtor is not doing any business since more than last 2 years and the only asset, the corporate debtor is left with are two immovable properties situated in Bawal, Rewari, Haryana and Gurugram; whereas one is under construction and the 2 properties at Gurugrarn, are lying vacant and only a junk plant and machinery are fixed. 4. However, after going through the aforesaid facts; The Com....

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....to the Adjudicating Authority for the same". 6. Therefore, in the factual background of the present case, the Resolution Professional proposed, in the 5th CoC meeting, to send the CD into liquidation. Further the CoC have also, after all the discussions and deliberations, resolved to liquidate the Corporate Debtor under Section 33 of the Code. 7. In the result the application is hereby allow....

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....er shall be deemed to be notice of discharge to the officers, employees and the workmen of the corporate debtor, as per Section 33(7) of the Insolvency and Bankruptcy Code, 2016; e. The Liquidator is directed to proceed with the process of liquidation in the manner laid down in Chapter III of Part II of the Insolvency and Bankruptcy Code, 2016 and in accordance with the relevant rules and....