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2022 (1) TMI 514 - Tri - Insolvency and BankruptcyLiquidation of Corporate Debtor - Section 33 of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- Despite all possible steps as required under the Code taken during the CJRP, the CoC did not receive any viable resolution plan/proposal for revival of the Company. The CoC in its wisdom has resolved in favour of the liquidation of the Corporate Debtor. This Authority has no reason before it to take a contrary view in terms of Section 33 of the Code. Therefore, it has no option than to pass an order for liquidation of the Corporate Debtor to sale as going concern in the manner laid down in Chapter III of the Code. The Corporate Debtor, Belgium Aluminum & Glass Industries Private Limited, shall be liquidated - Application allowed.
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