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2021 (9) TMI 115 - Tri - Insolvency and BankruptcyLiquidation of Corporate Debtor - Section 33(2) of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- Despite all possible steps as required under the Code taken during the CIRP, the CoC did not receive any viable resolution plan/proposal for revival of the Company. The CoC in its wisdom has resolved with 91.04% voting share in favour of the liquidation of the Corporate Debtor as a going concern. The Applicant RP has given his consent to act as Liquidator. This Authority has no reason before it to take a contrary view in terms of Section 33(1)(a) of the Code. Therefore, it has no option than to pass an order for liquidation of the Company in the manner laid down in Chapter III of the Code. The Corporate Debtor is ordered to be liquidated - application allowed.
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