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2019 (12) TMI 1578 - NATIONAL COMPANY LAW TRIBUNAL, CHENNAILiquidation of the Corporate Debtor - Section 33 of the Insolvency and Bankruptcy Code, 2016 read with Regulation 33(2) of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 and Section 60(5) of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- It is evident that no resolution plan has come because no Expression of Interest was issued by the Resolution Professional for the reasons aforementioned. However, since the CoC has taken a decision for liquidation of the company, the same being permitted and explicitly stated u/s. 33(2) of the Code as amended on 16.08.2019 since the CoC has already passed resolution for liquidation of the Corporate Debtor with 73.44% voting share on 18.10.2019, the liquidation order is passed. Application allowed.
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