- (1.) Oral Order dictated in the open Court on 10.112017 It is an Application filed under Section 33 r/w Section 60 (5) (c) of Insolvency and Bankruptcy Code, 2016 (Code) by the Interim Insolvency Professional seeking an order for liquidation of the Corporate Debtor by appointing the interim Insolvency Resolution Professional (IRP) to act as liquidator for the purpose of liquidation.
(2.) On the moratorium order passed by this Bench on 19.04.2017, since this Applicant has been appointed as Interim Resolution Professional, made the requisite public announcement on 29.04.2017, thereafter he appointed two registered valuers, then issued notices to the creditors namely Thandiram Textiles Pvt. Ltd. and another creditor namely Navbharat Archive Xpress Private Limited. When those two Operational Creditors did not respond to the notices for filing their claims before the IRP, this Insolvency Resolution Professional filed this Miscellaneous Application after expiry of Corporate Insolvency Resolution Plan (CIRP) period of 180 days.
(3.) On perusal of record, it appears that this Bench passed an order on 19.04.2017 admitting the Company Petition filed u/s 10 of Insolvency and Bankruptcy Code for the Corporate Debtor committed default in discharging liabilities. This Applicant, being appointed as Insolvency Resolution Professional, gave required public announcement on 29.04.2017 in two newspapers namely Hindustan Times and Maharashtra Times in accordance with Regulation 6 of the Code inviting creditors of the Corporate Debtor to submit their claims up to 11.5.2017. Consequent to the public announcement, this Applicant appointed two registered Valuers under Regulation 27 of CIRP Regulations, 2016 for determining the liquidation value of the asset of the Corporate Debtor company. When no one came forward with claims, on seeing the names of two creditors in the Books, the IRP issued separate notices to those creditors, but no responses to those notices as well. Then the Applicant himself made an application to HDFC Bank and Standard Chartered Bank for the Bank Statement as of date, responding to the same, to which, the Standard Chartered bank gave Financial Statement for the Financial year 2016-17, but whereas the HDFC bank has not responded to the notice till date.;