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2022 (4) TMI 1485 - Tri - Insolvency and BankruptcyLiquidation of Corporate Debtor as a going concern - section 33 of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- From the minutes of the meetings of the CoC it is apparent that in spite of their being a request by applicant to put in a Resolution Plan and request by one director of the Corporate Debtor to consider this request to save the Corporate Debtor from liquidation, the CoC by 100% voting in its commercial wisdom took a conscious decision to go in for liquidation of the Corporate Debtor. In the matter of Shashi Dhar Vs. Indian Overseas Bank and Ors. [2019 (2) TMI 1043 - SUPREME COURT], the Hon'ble Supreme Court has held that the legislature while enacting the IBC, consciously does not provide any ground to challenge the commercial wisdom of the individual Financial Creditors or the collective decision of the CoC before NCLT and the decision of the CoCs commercial wisdom has been made non-justiciable. Prayers as filed by Mr. Kuldeep Verma, RP of Manthan Broadband Services Private Limited, the Corporate Debtor, is allowed and the Corporate Debtor is ordered to be liquidated in terms of section 33(1) of the Code - moratorium declared.
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