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2021 (10) TMI 337 - Tri - Insolvency and BankruptcyLiquidation of Corporate Debtor - Section 33(1) read with Section 60 of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- The reasons assigned by the applicant in the application with respect to taking the decision of liquidation of the Corporate Debtor by the CoC appears to be genuine and convincing considering the financial conditions and assets of the company. It is observed from the minutes of the 2nd CoC meeting that the CoC has, with 93.31% majority, decided to liquidate the Corporate Debtor and relying on the settled principle of law regarding the Commercial Wisdom of the CoC, this Miscellaneous Application is allowed. The Corporate Debtor is ordered to be liquidated - application allowed.
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