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2019 (11) TMI 841 - Tri - Insolvency and BankruptcyLiquidation of company - proceedings under CIRP - Resolution Professional submits that no resolution plan was received by him - CoC in the meeting unanimously decided to liquidate the Company. - HELD THAT:- RP has complied with the procedure laid under the Code read with Insolvency & Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (Regulations), for the valuation report filed by the valuer has not been disputed by the CoC, on verification - this case is fit to pass liquidation order under sub-section 1 of section 33 of the Code as no resolution plan has been approved by the Adjudicating Authority. Resolution Professional is appointed as the Liquidator as provided under section 34(1) of the Code. All powers of the board of directors, key managerial personnel and the partners of the Corporate Debtor, as the case may be, shall cease to have effect and shall be vested with the liquidator - Application allowed.
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