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2019 (7) TMI 964 - Tri - Insolvency and BankruptcyAdmissibility of petition - initiation of Corporate Insolvency Resolution Process (CIRP) - Corporate Debtor - HELD THAT:- The Resolution Professional has not received any viable and feasible Resolution Plan from the Resolution Applicants in respect of the Corporate Debtor and therefore, the CoC has decided to recommend for liquidation of the Corporate Debtor - the CoC vide electronic voting conducted between 22.02.2019 10.30 A.M and 23.02.2019 10.30 A.M., decided to liquidate the business of the Corporate Debtor with a vote of 95.90%. The Resolution Professional has filed the instant MA/232/2019 in CP/472/IB/2017 for seeking order for liquidation of the Corporate Debtor viz., M/s. BKR Hotels & Resorts Private Limited, 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 maximum period of CIR Process, the Corporate Debtor has to be ordered for Liquidation. Application disposed off.
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