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2020 (3) TMI 96 - Tri - Insolvency and BankruptcyLiquidation order - provisions of section 33(1) of the Code - HELD THAT:- The Resolution Professional and the CoC have made all efforts to revive the operations of CD but in vain. The Adjudicating Authority has also exercised its discretion in granting sufficient time in order to exhaust all possibility of getting solution to the issue in question. Therefore, there is no other alternative for the Adjudicating Authority except to initiate Liquidation proceedings, as per extant provisions of Code, in respect of Corporate Debtor, and the delay occurred till this date is deemed to be condoned in the interest of justice. Application disposed off.
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