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Judgment
Ld. Counsel appears for the Operational Creditor. Ld. RP appears. 4th progress report is filed. CIRP period of 180 days is completed on 20.08.2019. RP submitted that he did not receive any resolution plan. There was no cooperation from the corporate debtor. CoC in its meeting dated 20.08.2019 passed resolution not to pray for extension of CIRP period under section 12 of IBC. In view of this inevitable inference that has to be drawn that this authority has no alternative but to pass order of liquidation of the corporate debtor. Accordingly, we direct that corporate debtor be liquidated as per provision of section 33 of IBC. Order of liquidation is being passed separately under section 33 of IBC.
Ld. RP submits that he does not wish to continue with further liquidation proceeding for his personal difficulty. He stands discharged. This authority would appoint some other professional as the Liquidator in course of time.