AI Structured Summary
Not yet generated for this judgment
Judgment
IA No. 1507 of 2020 in CP 2323 of 2018 has been filed by the RP u/s 33(2) for the liquidation of the Corporate Debtor Company as per the provisions of the code. The CoC in its meeting held on 11th September, 2020 had discussed and passed a resolution for the liquidation of the Corporate Debtor Company with 100% voting.
The CoC had also decided to appoint Mrs. Anagha Anasingaraju as the liquidator to complete the liquidation process of the Corporate Debtor Company. In resolution 3 of the CoC meeting of 11th September, 2020 the CoC had also decided that the liquidator appointed shall be paid a fee of Rs. 15 lakhs plus GST along with reimbursement of expenses as incurred in connection with carrying out responsibility as liquidator. This was also approved by the CoC in their meeting with 100% voting.
In view of the above this Bench allows IA No. 1507 of 2020 for initiating liquidation of Corporate Debtor Company. The liquidator is directed to complete the liquidation process in terms of the extant provisions of the IBC, 2016.
IA No. 1507 of 2020 is allowed and disposed off accordingly.