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2021 (8) TMI 105 - Tri - Insolvency and BankruptcyLiquidation of the corporate debtor - Section 33(1) of Insolvency and Bankruptcy Code, 2016 - HELD THAT:- The CIRP of 180 days in the present matter expired on 08.09.2019 and because the corporate debtor does not have any asset/business nor have any reliable financial statement, it is seen from the provisions of IBC, 2016 is to only press the liquidation mode as provided under the provisions of section 33 of IBC, 2016. This Tribunal in the circumstances taking into consideration the provisions of law as well as on facts on record to order for liquidation of the corporate debtor and in the circumstances the corporate debtor stands liquidated and the incidence of liquidation to follow, on and from the date of this order in terms of the provisions of IBC, 2016 and more particularly as given in Chapter-III of IBC, 2016 and also in terms of Insolvency and Bankruptcy (Liquidation Process) Regulations, 2017 along with the following directions imposed. Application allowed.
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