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2021 (4) TMI 12 - NATIONAL COMPANY LAW TRIBUNAL SPECIAL BENCH, MUMBAI COURT IILiquidation of the Corporate Debtor - resolution plan not submitted as required - HELD THAT:- It is noted that in response to the EOI, no resolution plan has been received from any quarters. Therefore, the CoC in its 5th meeting resolved in favour of liquidation of the Corporate Debtor. In view of the unanimous decision of the CoC, we have no other option than to admit MA 4008 of 2019 and initiate Liquidation process of the Corporate Debtor. In the 5th CoC meeting, CoC members having 27.68% of voting share has assented for appointment of RP as Liquidator but CoC members having voting share of 72.34% dissented for appointment of RP as Liquidator. Since the majority of the CoC Members had voted against Applicant’s appointment as liquidator. From the subsequent material submitted it is observed that Mr. Rajeev Muppidi from Axis Bank Limited vide its email dated January 15, 2020, has consented on behalf of the bank for the appointment of RP as Liquidator. The application is allowed to initiate liquidation process against the Corporate Debtor.
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