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2020 (12) TMI 246 - Tri - Insolvency and BankruptcyLiquidation of Corporate Debtor - in the 6th CoC meeting the resolution plan for revival of the Corporate Debtor had failed to get the approval of the CoC - HELD THAT:- This matter needs a further hearing but prima facie the liquidation process cannot be halted for indefinite period. As a part of the liquidator process shares have to be sold after making offer to the other parties i.e., the applicant and WBIDC - We, therefore, grant ad interim stay only by restraining the Liquidator from selling the shares of the Corporate Debtor to outsiders for a period of two weeks only when the issue would possibly be heard and decided finally. Matter stands adjourned to 22/09/2020 for further consideration.
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