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2020 (10) TMI 1297 - NATIONAL COMPANY LAW TRIBUNAL, PRINCIPAL BENCH, NEW DELHISeeking for issuance of directions for liquidation to Corporate Debtor - Section 33(1) of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- In accordance with Regulation 27 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulation, 2016 (“CIRP Regulations”), the erstwhile IRP had appointed two registered valuers, i.e., Mr. Lakhan Lal Gupta and Mr. Vijay Vinod Bhatia, to determine the liquidation value of the Corporate Debtor in accordance with Regulation 35 of CIRP Regulations - in the same meeting the RP had submitted the estimated liquidation value of the assets of the CD based on the valuation reports obtained from the valuers, is approximately ₹ 18,40,85,597/- as per the report of the valuers. The application is allowed by ordering liquidation of the corporate debtor, namely M/s.Marga Industries.
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