2021 (2) TMI 461 - NATIONAL COMPANY LAW TRIBUNAL , KOCHI BENCH - Insolvency & Bankruptcy

Head Note / Extract:
Liquidation of the Corporate Debtor - Section 33(1) of IBC, 2016 - HELD THAT:- In order to state that the Adjudicating Authority can approve the Liquidation of Corporate Debtor Company without taking any steps for resolution of the Corporate Debtor, the Applicant has referred to a decision of the Hon’ble NCLAT in the matter of Sunil S. Kakkad Vs. Altrium Infocom Private Limited [2020 (8) TMI 392 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI]. This Tribunal heard the learned counsel appearing for the Resolution Professional and had gone through all the case records including the Resolution passed by the Committee of Creditors in the 2nd meeting held on 07.12.2020, and being satisfied with the conditions enshrined in the CIRP Regulations and ordered that Corporate Debtor M/s. Auto Friction Components India Private Limited is hereby put under liquidation with immediate effect under Section 33(1) of IBC, 2016. Application allowed.