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2019 (5) TMI 1667 - AT - Insolvency and BankruptcyLiquidation and appointment of Liquidator - Section 33 of the Insolvency and Bankruptcy Code, 2016 - initiation of Corporate Insolvency Resolution Process - going concern - HELD THAT:- Apart from the fact that Liquidator will ensure that ‘Corporate Debtor’ remains a going concern, we are of the view that the Liquidator should approach the Union of India through the concerned Department for realization of the funds to ensure that the ‘Corporate Debtor’ remains a going concern. Union of India though not party before us, is expected to release certain funds from the Consolidated Fund, if permissible for ensuring that the ‘Corporate Debtor’ remains a going concern and scheme or arrangement may be reached under Section 230 of the Companies Act, 2013 or it can be sold as a going concern along with its employees/ workmen to a third party. Appeal disposed off.
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