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2021 (5) TMI 474 - Tri - Insolvency and BankruptcyLiquidation of Corporate Debtor - Section 33(1)(a) of Chapter III of IBC, 2016 - HELD THAT:- Since, in the 1st CoC meeting held on 03.08.2020, the Committee of Creditors has deliberated about the current affairs of the Corporate Debtor by taking into consideration that there are no movable or immovable assets in relation to the Corporate Debtor and also keeping in view of the fact that the Corporate Debtor is not running its business and based on its commercial wisdom has decided to liquidate the Corporate Debtor, by taking into consideration the provisions of Section 33 of IBC, 2016 and in the absence of any opposition to the Application from the Promoters of the Corporate Debtor and also guided by the decision of the Hon'ble Supreme Court in the matter of K. SASHIDHAR VERSUS INDIAN OVERSEAS BANK & OTHERS [2019 (2) TMI 1043 - SUPREME COURT] this Tribunal orders for the liquidation of the Corporate Debtor. The Corporate Debtor are allowed to be liquidated - application allowed.
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