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2021 (6) TMI 851 - Tri - Insolvency and BankruptcyLiquidation of Company - appointment of Resolution professional as Liquidator of the Corporate Debtor - Section 33(2) of Insolvency and Bankruptcy Code, 2016 - HELD THAT:- The Interim Resolution Professional has produced the 6th and 7th CoC resolutions. In the 6th meeting of the COC it was resolved with 100% voting right to liquidate the Corporate Debtor M/s. Moonriver Resorts Private Limited and in the 7th CoC it was resolved to appoint the Interim Resolution Professional Shri K.T. Mathew as the Liquidator. From Section 33(2) of the Insolvency and Bankruptcy Code, it is clear that when a Resolution Professional at any time during the CIRP but before confirmation of Resolution Plan approaches the Adjudicating Authority with the decision of the COC approved by not less than sixty six percent of the voting share, the Adjudicating Authority shall pass a liquidation order. In this case the CoC with 100% voting right approved the resolution for liquidation of the Corporate Debtor. Hence this is a fit case to order liquidation under Section 33(2) of the IBC, 2016. The Corporate Debtor M/s. Moonriver Resorts Private Limited is hereby put under liquidation with immediate effect under Section 33(2) of IBC, 2016 - application allowed.
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