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2020 (10) TMI 1036 - Tri - Insolvency and BankruptcyLliquidation of the corporate debtor - applicant appraised the COC, that since the COC had not approved extension of CIRP time, therefore no fresh invitation for EOI or extension can be given to Prospective Resolution Applicants. Further appraised that the CIRP period is ending on 23.06.25020, therefore the applicant is left with no option but to file application for liquidation of Corporate Debtor in terms of Section 33(1)(a) of IBC, 2016. HELD THAT:- Since the COC in its commercial wisdom has decided not to seek extension of CIRP period but to take the corporate debtor in liquidation and explore the possibility of it being sold as going concern, we are of opinion that the decision of COC should not be interfered. The present application seeking liquidation of the corporate debtor, UTM Engineering Private Limited, in the manner laid down in the Chapter III of Part II of the Insolvency and Bankruptcy Code, 2016 is allowed. Application admitted.
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