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2019 (3) TMI 1193 - Tri - Insolvency and BankruptcyLiquidation of the Corporate Debtor - no Resolution Plan submitted - CIR process - Resolution Profession, on the recommendation of the CoC, filed an Application for further extension of the time period of CIR Process on the ground that the proceedings under the I&B Code, 2016 were suspended between 23.10.2017 to 21.12.2017 by virtue of the orders of the Hon’ble High Court of Madras and this Authority had extended the time period of CIR Process till 22.06.2018 - HELD THAT:- It is stated by the Resolution Professional that the CoCs has unanimously rejected the revised offer submitted by the Resolution Applicant on 07.01.2019 with 100 per cent voting share. Since no Resolution Plan has been received by this Authority under Sub-Section (6) of Section 30 of the I&B Code, 2016, before the expiry of the Corporate Insolvency Resolution Process the Corporate Debtor has to be ordered for Liquidation. This Authority hereby orders for liquidation of the Corporate Debtor viz., M/s. Infinitas Energy Solutions Pvt. Ltd., which shall be conducted in the manner as laid down in Chapter III of part II of the I&B Code, 2016.
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