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2019 (7) TMI 1839 - Tri - Insolvency and BankruptcySeeking Liquidation of Corporate Debtor - Section 33(2) of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- Prima facie perusal of the form as well as documents annexed therewith show that the disposal of the assets as tabulated here in above has been done in the near proximity of the initiation of the CIRP by this Tribunal on 27.8.2018. However, in the absence of any reply being on record as this application seems to have been filed only on 23.3.2019 and as mentioned on 8.5.2019 wherein it is evident that notice was directed to be issued to the respondent of which no proof has till now been furnished by the RP, the liquidator appointed is directed to proceed with the application in the right earnest. From the records, it is seer that at the time of rejection of the resolution plan on 14.2.2019 by 100% votes cast against the resolution authority has also been given to the RP to do all acts, deeds as necessary to give effect to the rejection of the resolution plan. Since the resolution plan has been rejected by the COC based on the commercial considerations and no further resolution plan has been received on or before the expiry of the CIRP period, taking into consideration the provisions of Section 33 of IBC,2016, this Tribunal orders for the liquidation of the CD. Application allowed.
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