AI Structured Summary
Not yet generated for this judgment
Judgment
ORDER
The Learned Representatives for both sides are present.
MA-1582/2018 is an application moved by RP seeking an Order under Section 33 of I & B Code for liquidation of the Corporate Debtor. Placed on record the resolution of the COC dated 05.12.2018 through which it was decided that in case the Resolution Plan is not approved by the COC the Corporate Debtor shall automatically be voted for Liquidation. Voting results are on record. The COC Members have also discussed about the name of the RP to continue as liquidator vide item no. 9 of the said resolution. Since there is no Resolution Plan and also considering the totality of the circumstances as well as the decision of the COC the application is allowed for commencement of the Liquidation process. The Liquidator shall proceed expeditiously and submit Report of the Liquidation on 11.12.2019 for liquidation proceedings. MA-1582/2019 Allowed Disposed of.
MA-3166/2019 is adjourned to 24.10.2019 and other applications adjourned to 11.12.2019.