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2019 (8) TMI 1847 - NATIONAL COMPANY LAW TRIBUNAL KOLKATASeeking Liquidation of corporate Debtor - Section 33 of I & B Code, 2016 - HELD THAT:- This is a fit case wherein an order for liquidation is to be passed. The Coc has failed in approving any resolution plans with in the period of CIRP. In the said circumstances, it is unfair and unjust to continue the proceedings in the case in hand. On the other hand, the RP being failed in submitting a resolution plan under Section 30(6) of the I & B Code, 2016, an order for liquidation is liable to be passed under Section 33 of I & B Code, 2016. The Liquidator is empowered to sell the Corporate Debtor company under liquidation as a going concern. The Liquidator can explore all the possibility as to whether the Corporate Debtor can be sold as a going concern failing which, he is also empowered to take steps under Section 230 of the Companies Act, 2013. That being the powers given to the Liquidator, we do not find any justifiable reason to exclude the period of the litigation pending up to the Hon’ble Supreme Court and wait further till the disposal of the appeal pending before the PMLA. Corporate Debtor is ordered to be liquidated - application allowed.
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