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2020 (12) TMI 491 - Tri - Insolvency and BankruptcyLiquidation of the corporate debtor - CIRP of 270 days in the present matter has been expired and due to non-receipt of any Resolution Plan within the period of CIRP of 270 days, hence this application has been filed under the provisions of section 33 of IBC, 2016 - HELD THAT:- The Resolution Professional represents that valuation report as required to be obtained under the provisions of IBC, 2016 from the registered valuer in relation to the fair value of the assets of the corporate debtor as well as its liquidation value has been duly done. The fair value of assets and liquidation value as per date 20.07.2020 is ₹ 384.88 (in lakhs) and ₹ 105.40 (in lakhs) respectively. This Tribunal in the circumstances taking into consideration the provisions of law as well as on facts hereby orders for liquidation of the corporate debtor and in the circumstances the corporate debtor stands liquidated and the incidence of liquidation to follow, on and from the date of this order in terms of the provisions of IBC, 2016 and more particularly as given in Chapter – III of IBC, 2016 and also in terms of Insolvency and Bankruptcy (Liquidation Process) Regulations, 2017 - application allowed.
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