2021 (10) TMI 539 - Insolvency & Bankruptcy

Seeking Liquidation of the Corporate Debtor - Section 33 (2) of Insolvency and Bankruptcy Code, 2016 - HELD THAT:- This Tribunal after taking into consideration the present facts, circumstances and the provisions of law, hereby order for liquidation of the corporate debtor and in the circumstances the corporate debtor stands Liquidated, and the incidence of liquidation is 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.

The Liquidation order is allowed - application allowed.