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2021 (8) TMI 950 - NATIONAL COMPANY LAW TRIBUNAL , CHENNAI BENCHLiquidation of Corporate Debtor - seeking withdrawal of CIRP in relation to the Corporate Debtor - 330 days period of CIRP in relation to the Corporate Debtor expired - Section 12A of IBC, 2016 - HELD THAT:- The Applicant has not disclosed the Liquidation value in relation to the Corporate Debtor. It is stated in the said Application that in order to maintain the confidentiality the Applicant has not disclosed the Liquidation value. However, it is very strange on the part of the Applicant to state so, since the Applicant/RP has disclosed the purported settlement proposal given by the promoter of the Corporate Debtor as ₹ 328.21 Crore, however fails to disclose the Liquidation value under the pretext that it is confidential, which statement, it is found that paradoxical and not amenable to ordinary prudence. The Corporate Debtor is required to be ordered for liquidation as per Section 33(1)(a) of IBC, 2016 - Application allowed.
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