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2020 (2) TMI 1561 - Tri - Insolvency and BankruptcyLiquidation of Corporate Debtor - Section 33(1)(a) of I&B Code - HELD THAT:- Since, there was no resolution of the stressed assets of the Corporate Debtor under consideration for the approval of the Adjudicating Authority under Section 31 of the Code and since the Resolution Professional prays for passing an order of liquidation these applications require no consideration. It is also significant to note that 330 days of CIRP period, been expired on 29/01/2020. Therefore, all these applications can be disposed of with a liberty to submits their respective claim to the liquidator appointed in the case in hand. With the above said observations, all these applications are to be disposed of. Thus, no resolution plan is forthcoming to resolve the stressed assets of the Corporate Debtor there is no other alternative than to pass an order of liquidation requiring the Corporate Debtor to be liquidated in the manner as laid down in Chapter 3 read with Section 33(1)(a) of the Code. Mr.Kannan Tiruvengadam has given written consent to continue as the Liquidator and hence he is to be appointed as the Liquidator. The Corporate Debtor has been ordered to be liquidated - Application allowed.
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