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Judgment
The Bench has made the following orders:
I.A.No.596/2019 in C.P.(IB)No.206/BB/2018 is filed by Shri Venkataraman Jayagopal, Resolution Professional (Applicant) Under Regulation 33 (2) R/w Section 60 (5) of IBC, 2016, by inter-alia seeking to liquidate the Corporate Debtor as per the provisions of the Code in terms of decision taken by the Committee of Creditors at their meeting held on 11th November 2019 under Section 33 (2) of the Code; to issuance of a public announcement stating that the Corporate Debtor is in liquidation etc.
Heard Shri Venkataraman Jayagopal, learned Resolution Professional and Shri K. Krishnappa, learned Standing Counsel for ESIC. We have carefully perused the pleadings of the parties and extant provisions of the Code and Rules made there under.
By perusal of the CoC meeting held on 11.11.2019, the CoC has not taken any decision to appoint Resolution Professional as Liquidator. It is the duty of the CoC to recommend the name of the Liquidator and he is to give written consent in accordance with law.
Hence, I.A.No.596/2019 in C.P. (IB)No.206/BB/2018 is hereby disposed of as withdrawn by granting liberty to the Resolution Professional to file fresh Application in accordance with law. Post the case on 04.12.2019.