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2021 (1) TMI 1189 - Tri - Insolvency and BankruptcyLiquidation of Corporate Debtor - Corporate Debtor has not been working since long and the last Balance Sheet i.e., found in the MCA Portal is for the year 2012-2013 - Corporate Debtor Directors are also not traceable - section 33(2) of IBC - HELD THAT:- Though this Company Petition was admitted on 03.01.2020, for the application for appointment of Authorized Representative remained pending for long time, the RP could not get home buyers approval until before 2nd CoC meeting. Of late the AR being appointed, the CoC held meeting on 12.12.2020 and e-voted on with 96.7% approval on 14.12.2020 for liquidation of the Corporate Debtor, accordingly the RP filed this Application proposing liquidation of the Corporate Debtor. It is also pertinent to mention that RP having given consent to be appointed as a Liquidator, the same has been filed along with this application for appointment of RP as Liquidator. As the company has not been working since long and the Directors of the company are also not traceable, the CoC has taken a right decision proposing for liquidation of the Corporate Debtor - liquidation is ordered subject to conditions imposed. Application allowed.
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