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2021 (8) TMI 1153 - Tri - Companies LawSeeking to order for liquidation of the Corporate Debtor - Section 33(2) r/w Section 60 of the I & B Code, 2016 - HELD THAT:- The Resolution Professional and the COC of the Corporate Debtor, have made their best efforts to find a suitable Resolution Plan to revive the business of the Corporate Debtor. However, in the absence of any Resolution Plan received, there is no other alternative for the COC except to seek to order to liquidate the Corporate Debtor as per the provisions of the Code. The Resolution to initiate liquidation was also approved by the COC in its 7th meeting held on 24th May 2021, with requisite majority and the instant Application is filed strictly in accordance with law. M/s. Antal Infotech Private Limited, Corporate Debtor is ordered to be liquidated in the manner as laid down in Chapter III of Part II of Code, R/w IBBI (Liquidation process) Regulations, 2016 - the scheme is approved - application allowed.
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