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Judgment
CA No. 174/2019 is an application filed by the Resolution Professional placing on record the decision of the CoC to file for liquidation. The said resolution appears as item No. 1 on the agenda for meeting held on 15th April 2019, this has been approved by 94% of the members of the CoC, in terms of the voting power. The application is duly annexed with the affidavit of the Resolution Professional. The period of CIRP has already expired and no Resolution Plan could be considered. Keeping in view, the nature of the business of the Corporate Debtor, this Bench is therefore of the opinion that the prayer of the CoC merits consideration. The application is allowed. The Resolution Professional is not interested in taking over as liquidator. Accordingly we are appoint Mr. Subramanian Natarajan, registration No. IBBI/IPA-002/IP-N00698/2018-2019/12317, Email Id:-[email protected], Mobile No. 7503562701 of the IBBI panel of Resolution Professionals as liquidator of this case.
Re-notify CA No. 403, 184 and 185 for further consideration on 05.12.2019.