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2021 (1) TMI 510 - Tri - Insolvency and BankruptcyLiquidation of the corporate debtor - liquidation sought on the ground that there is no possibility for resolution of the corporate debtor - HELD THAT:- Section 33(2) of the Code enjoins the Adjudicating Authority to pass an order for liquidation of the corporate debtor where the resolution professional, at any time during the CIRP but before confirmation of the resolution plan, intimates the Adjudicating authority of the decision of the CoC approved by not less than sixty-six per cent. of the voting share, to liquidate the corporate debtor. In the present case, the CoC has resolved by 100 per cent. voting share to liquidate the corporate debtor. Application is allowed and the corporate debtor is ordered to be liquidated in terms of section 33(2) of the Code read with sub-section (1) thereof.
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