AI Structured Summary
Not yet generated for this judgment
Judgment
ORDER
IA 1217/2020 has been filed invoking the Section of 33 of the Code. It is submitted that only 1 resolution plan had been received which was not approved. In view of the same, a resolution was passed to proceed towards liquidating the assets of the Corporate Debtor. 270 days have already expired and in the absence of any resolution plan, it is considered prudent to initiate liquidation of the Corporate Debtor's assets.
This application is duly supported by the affidavit of the RP. The resolution to proceed towards liquidation is unanimously approved by 100%. Mr. Rajiv Malik, the RP has consented to act as a Liquidator. His consent is not on record. Let the same be filed. Keeping in view the facts of the case, there is no legal impediment in allowing the prayer made. IA 122 stands allowed. The assets of the Corporate Debtor be liquidated. The consent in the required format of the Liquidator be placed on record within 1 week.