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2021 (9) TMI 1019 - Tri - Insolvency and BankruptcyLiquidation of the Corporate Applicant - Section 33(2) of Insolvency and Bankruptcy Code, 2016 - HELD THAT:- This Tribunal in the circumstances taking into consideration the provisions of law as well as on facts is hereby orders for liquidation of the corporate debtor and in the circumstances the corporate debtor is put under Liquidation 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. Mr. Punit Handa, Resolution Professional, has given consent to act as the Liquidator vide written communication dated 18.08.2021 and is, therefore, appointed as Liquidator under section 34 of the Insolvency and Bankruptcy code, 2016 read with Regulation 3 of Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 - the corporate debtor is ordered to be liquidated - application allowed.
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