AI Structured Summary
Not yet generated for this judgment
Judgment
ORDER
The Learned Representatives for both the sides are present.
MA 699/2018 filed by RP under Section 19 (2) against the Ex Director of the Debtor Company. The substituted RP has informed that the information has already been received. Therefore, seeking permission for withdrawal of Miscellaneous Application. Considering the statement as recorded in the Attendance sheet Memo MA-669/2018 stood withdrawn Disposed of.
This MA-934/2019 is filed by the present RP seeking an order under Section 3 (1) (A) of the I&B Code to commence the liquidation process against the Corporate Debtor. Placed on record the Resolution of the COC dated 28.02.2019 wherein as per Agenda No. 1 approval for liquidation in view of non-receipt of Resolution Plan has been considered. As a consequence this application has been filed.
The present RP has also given consent to function as Liquidator appointed to commence the Liquidation process. Resolution of liquidation was unanimously approved by the Members of the COC. Application for liquidation allowed. Directed to proceed accordingly. Place on record the progress of Liquidation on 10.12.2019.
It has also been informed that the CIRP period has also expired on 23.02.2019. Therefore, the COC has also approved for the liquidation. Next date for submission of Liquidation Progress adjourned to 10.12.2019.