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2018 (12) TMI 1049 - NATIONAL COMPANY LAW TRIBUNAL, CHENNAIInitiating Corporate Insolvency Resolution Process - COC rejected the draft proposal received by RP from promoters - Held that:- In the light of the facts and circumstances stated in the Application filed by the RP, this Adjudicating Authority in exercise of powers conferred under Section 33(1)(a) of the I&B Code, 2016, proceed to pass the following order we order for liquidation of the Corporate Debtor viz., M/s. Jain Granites & Projects India Limited, which shall be conducted in the manner as laid down in Chapter III of part II of the I&B Code, 2016.
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