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Judgment
This is an application under Section 33(2) of the IB Code, 2016 seeking initiation of liquidation proceedings of the Corporate Debtor. Ld. Counsel for the RP has appeared and submitted that CoC in its meeting of 11.03.2022 has recommended with 90.51% voting share to commence liquidation proceedings against the Corporate Debtor. Ld. Counsel for the RP has filed the minutes of the meeting to the CoC held on 11.03.2022. We have gone through the documents submitted by the Ld. Counsel for the RP. Accordingly, the CoC has also recommended that the Resolution Professional Sh. Puneet Sakhuja, bearing Registration No. IBBI/IPA-001/IP-P01820/2019-2020/12792 be appointed as Liquidator. Ld. Counsel for the RP has submitted certificate of registration, authorization for assignment as well as the consent of the Resolution Professional to act as the Liquidator.
Since the CoC has with 90.51% voting share recommended the liquidation of the Corporate Debtor, this Tribunal allows this application and orders for initiation of the liquidation proceedings against the Corporate Debtor M/s. RSJ Developer Pvt. Ltd. in terms of Section 33 (2) of IBC and appoints the Sh. Puneet Sakhuja as Liquidator of the Corporate Debtor in accordance with Section 34 of IBC. The Liquidator so appointed will from time to time apprise this Tribunal of the progress in the matter.