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2021 (8) TMI 943 - Tri - Insolvency and BankruptcyLiquidation of Corporate Debtor - Section 33 of the Insolvency and Bankruptcy Code, 2016 read with Rule 11 of the NCLT Rules, 2016 - HELD THAT:- 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 liquation 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 Nova Steels (India) Limited is ordered to be liquidated with immediate effect under Section 33(2) of IBC, 2016 - Application allowed.
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