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2021 (10) TMI 710 - Tri - Insolvency and BankruptcyLiquidation of the Corporate Debtor - Section 33(2) of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- The liquidation has to follow as recommended by the Committee of Creditors in terms of provisions of Section 33(2) of the Code. Adherence to statutory requirement has to be in toto. When the language of the Code is clear and explicit the Adjudicating Authority must give effect to it whatever may be the consequences and in present case the consequence is liquidation of Corporate Debtor. Since there is no resolution plan, and in conformity with the decision of the Committee of Creditors with 100% voting share, the payer for liquidation of the corporate debtor under Section 33 of the Code is hereby allowed. Application allowed.
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