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2019 (10) TMI 1308 - Tri - Insolvency and BankruptcyLiquidation order - section 33 of the I&B Code, 2016 - HELD THAT:- It is seen from the record that there was only one Resolution Applicant - names Srei Multi Asset Investment Trust Vision India Fund (SMAITVIF) who vide email dated 6th June 2019 had informed the RP that based on their detailed internal discussion with their management post their presentation of the Resolution Plan to the CoC members in the 11th CoC meeting held on 17th May, 2019, they were of the opinion that without security of land on which the plant of Kohinoor Power is located, it is difficult to envisage any value for the assets of Kohinoor Power Private Limited and hence were no longer interested in pursuing the opportunity further as Resolution Applicant - 12th CoC meeting was held on 10th June, 2019 and it was unanimously agreed by the CoC members that since there was no Resolution Plan, liquidation is to follow as per the provisions of IBC, 2016. The process of liquidation of the Corporate Debtor under section 33 of the I&B Code, 2016 is allowed.
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