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Judgment
IA(IBC)(LIQ)/2/2025:
This application has been filed by the Resolution Professional vide Diary No. 2429 dated 04.12.2025 under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking initiation of liquidation of the Corporate Debtor. During the course of today's hearing, the Counsel for the Resolution Professional submitted that, in view of the amendments brought into force under the IBC and the relevant Regulations, a memo vide Diary No. 405 dated 05.03.2026 has already been filed, enclosing the Minutes of the 17th Committee of Creditors (CoC) Meeting held on 02.03.2026, wherein the CoC, with 100% voting share, resolved to appoint Mr. Srinivas Gudla Rao as the Liquidator. The written consent in Form AA and the valid Authorisation for Assignment (AFA) of the proposed Liquidator have also been placed on record. The said memo is taken on record.
Upon consideration of the submissions and the material available on record, it is observed that, in terms of the amended provisions and Regulation 3A of the IBBI (Liquidation Process) Regulations, the CoC is required to recommend the name of the Liquidator from the panel of Insolvency Professional prepared by the IBBI. It is noticed that Mr. Srinivas Gudla Rao has been duly selected by the CoC with 100% voting share and his name is reflected in the panel for 1st January 2016 to 30th June 2026 for Amaravati Bench to act as Liquidator.
Accordingly, Mr. Srinivas Gudla Rao, Registration No. IBBI/IPA-001/IP-P02093/2020-2021/13333, having office at # 6-20-20/3, Aqua Towers, Flat No. 201, East Point Colony, Visakhapatnam – 530017, is hereby appointed as the Liquidator of the Corporate Debtor to conduct the liquidation process in accordance with the provisions of the Insolvency and Bankruptcy Code, 2016, the IBBI (Liquidation Process) Regulations, and other applicable laws, as amended from time to time. The Registry is directed to communicate a copy of this order to the Committee of Creditors, the Liquidator, and the IBBI forthwith. Accordingly, IA (IBC) (Liq)/2/2025 stands allowed and disposed of.