2020 (3) TMI 1433

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....lant : Abhishek Anand, Viren Sharma, P. Nagesh, Tania Sharma, S. Mishra and Tushar Tyagi, Advocates. ORDER B.S.V. Prakash Kumar, Actg. President Heard and dictated in open court. IA-1034(PB)/2020:- It is an application moved by RP under Section 33(2) of the Code for liquidation of the corporate debtor based on the resolution passed by the CoC with 84.22 % voting share in its meeting held on 0....

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....osal of this application, the RP has given several Invitations of Expression of Interest on 23.10.2017, 29.11.2017, 06.04.2018 & 28.03.2019. Despite four invitations of EOI given, it appears that only one person i.e. objector in the application came forward with an EOI but whereas as per submission of RP, the objector failed to place the EMD along with EOI on 28.03.2019. 4. As against this applic....

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.... 6. Though this company petition has been admitted on 07.08.2017, till date neither resolution plan has come for approval before this Bench, nor has this bench decided the liquidation application pending before this Bench despite soon after two and half years passed by now. This objector has come before this Bench asking for another round of invitation of EOI is not acceptable because the CIRP pe....

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....l powers of the board of directors, Key managerial personnel and partners of the Corporate Debtor, as the case may be, shall cease to have effect and shall be hereby vested in the liquidator. The Personnel of the Corporate Debtor are directed to extend all co-operations to the liquidation as may be required in managing the affairs of the Corporate Debtor. The Insolvency Professional appointed as l....