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2018 (9) TMI 942 - Tri - Insolvency and BankruptcyLiquidation of the assets of the Corporate Debtor - Corporate Insolvency Resolution Process (CIRP) - Held that:- Resolution Professional has filed the Miscellaneous Application falling under Section 33(2) of the I&B Code, 2016, to liquidate the Corporate Debtor. A perusal of the of the Minutes of the Meeting of CoCs dated 03.07.2018 reveals during the CIRP, the CoCs has decided to liquidate the Corporate Debtor, the intimation of which has been given by the Resolution Professional by filing the present MA. In view of the facts and circumstances recorded by Resolution Professional in the Miscellaneous Application and the resolution passed by the CoCs as referred hereinabove, this Authority in exercise of powers conferred under Sub-Clauses (i), (ii) and (iii) of Clause (b) of Sub-Section (1) of Section 33 of the I&B Code, 2016, proceed to pass Order. This Authority order for liquidation of the Corporate Debtor viz., M/s. Associated Cylinders and Accessories Private Limited, which shall be conducted in the manner as laid down in Chapter III of Part II of the I&B Code, 2016. This Authority appoints the Resolution Professional viz., Mrs. SatyadeviAlamuri as Company Liquidator, who shall issue a public announcement stating therein that the Corporate Debtor is in liquidation;
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