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2019 (7) TMI 1628 - NATIONAL COMPANY LAW TRIBUNAL, CHENNAI BENCHLiquidation of Corporate Debtor - Resolution Plan by CoC not received - HELD THAT:- It is stated by the Counsel for the Resolution Professional that it was impossible to get any Resolution Plan by CoC within the period of 180 days, the only recourse open is to pass an order to liquidate the Corporate Debtor in the manner as laid down in the Code and Regulations made thereunder. Since no Resolution Plan is received by this Authority under Sub-section (6) of Section 30 of the I&B Code, 2016, before the expiry of the Corporate Insolvency Resolution Process period of 180 days, the Corporate Debtor has to be ordered for Liquidation. Corporate Debtor is ordered to be liquidated.
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