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2020 (9) TMI 1033 - Tri - Insolvency and BankruptcyLiquidation of Corporate Debtor - section 33(1), 33(2) and 34(1) of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- From the records, it is found that no viable and feasible Resolution Plan has been received so far and Corporate Debtor has no running business. Therefore, the CoC has resolved for liquidation of the Corporate Debtor vide its 3rd meeting dated 12.12.2019. It is also to be noted that this Adjudicating Authority has no jurisdiction to interfere in the commercial wisdom of the CoC. The moratorium declared under Section 14 of the IB Code shall cease to have effect from the date of the order of liquidation - Liquidator is further directed to issue public announcement stating that the Corporate Debtor is in liquidation - application allowed.
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