Per: Coram

1. This Court convened through hybrid mode. Page 2 of 7

2. This is an application preferred by Mr. Pratap Mukherjee i.e Liquidator of the Corporate Debtor, under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (“IBC” or “Code”) read with Regulation (38) of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 (“Liquidation Regulations”), inter alia, seeking the following reliefs;

i. Pass necessary order to allow distribution of unsold assets of the corporate debtors by the liquidator to the stakeholders;

ii. Any other directions which this Adjudicating Authority may deem fit in the facts and circumstances of the matter.

Brief facts of the case

3. The underlying Company Petition in C.P. (IB) No. 1147/KB/2020 was filed by Janpragati Commodities Private Limited, the Financial Creditor against the Corporate Debtor, to initiate Corporate Insolvency Resolution Process (“CIRP”) , under section 7 of the Insolvency and Bankruptcy Code 2016, which was admitted vide order dated 27.01.2022.

4. Mr. Neeraj Jain was appointed as the IRP vide the said order. Thereafter, the IRP was replaced by the Applicant herein as Resolution Professional vide o