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2022 (3) TMI 455 - Tri - Insolvency and BankruptcyLiquidation of the Corporate Debtor - Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- The liquidation has to follow as recommended by the Committee of Creditors in terms of provisions of Section 33(1) of the Code. Adherence to statutory requirement has to be in toto. When the language of the Code is clear and explicit the Adjudicating Authority must give effect to it whatever may be the consequences and in present case the consequence is liquidation of Corporate Debtor. In the factual background, since there is no resolution plan, period of CIRP has since been ended without any approved resolution plan, the payer for liquidation of the corporate debtor under Section 33 of the Code is hereby allowed. It is ordered that liquidation of the corporate debtor, namely M/s. R.K. Silk Mills Pvt. Ltd. shall be commenced in the manner laid down in the Chapter III of Part II of the Insolvency and Bankruptcy Code, 2016 - Application allowed.
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