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2021 (2) TMI 438 - Tri - Insolvency and BankruptcyLiquidation of the Corporate Debtor - section 33 of the IB Code - CIRP expired on 18.05.2020 i.e. during the lockdown period - HELD THAT:- It is found that the CoC has resolved for liquidation of the Corporate Debtor vide its Seventh meeting dated 30.06.2020. It is also to be noted that this Adjudicating Authority has no jurisdiction to interfere in the commercial wisdom of the CoC as observed in K. SASHIDHAR VERSUS INDIAN OVERSEAS BANK & OTHERS [2019 (2) TMI 1043 - SUPREME COURT]. The moratorium declared under Section 14 of the IB Code shall cease to have effect from the date of the order of liquidation - the application so filed by the RP under Section 33 & 34 of the IB Code, 2016 is allowed and the Adjudicating Authority passes an order for initiation of liquidation of the Corporate Debtor viz., Dhorajia Engineering Company Private Limited. The RP i.e. Mr. Kiran Shah, shall act as the Liquidator for the purpose of liquidation of the Corporate Debtor. Further, the lockdown period of 68 days i.e. from 25.03.2020 to 31.05.2020, is exempted from the CIRP period.
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