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2021 (3) TMI 994 - Tri - Insolvency and BankruptcyLiquidation of the Corporate Debtor Company - Section 33 and 34 of the Insolvency & Bankruptcy Code - HELD THAT:- This Adjudicating Authority is of the view that the liquidation order can be passed in respect of Corporate Debtor i.e. Varanasi Auto Sales Limited, as no resolution plan has been received by any of the Resolution applicant and the Members of the COC with 89.18% are also in favour for liquidation of the Company and further RP has complied with the provision laid down under Insolvency and Bankruptcy Code. The COC has also resolved the present RP to act as a liquidator in the matter and also the fee and expenses of the liquidation has been fixed in the COC meeting held on 17.01.2020. Liquidation order is passed - application allowed.
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