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Judgment
FOR CLARIFICATION
IA(IBC)/1053(KB)2022 is an application filed by the RP praying for liquidation of the corporate applicant.
Exclusive Engineers Private Limited, Corporate Applicant, has been admitted under CIRP vide order dated 21/11/2019 in CP(IB)/07(KB)2018 passed by this Adjudicating Authority. CoC was duly constituted with two Operational Creditors, i.e., (1) Union of India through Chief Engineer Navy, Vishakhapatnam (99.05%) and (2) The Commissioner of Commercial Tax, Government of West Bengal (0.95%).
It is stated in the application that Corporate Applicant has neither any assets nor any cooperation from the suspended members of the Board of Directors of the Corporate Applicant and no funds have been provided even by the CoC members for meeting the CIRP cost. Therefore, in the event of liquidation order is passed, who is going to bear the cost of liquidation?
List the matter on 02/08/2023.