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2023 (3) TMI 895 - Tri - Insolvency and BankruptcySeeking early dissolution of the Corporate Debtor - CD cannot be continued as going concern as it was not functional at the time of initiation of the CIRP process - no cooperation from the Directors of the Corporate Debtor since the books of accounts not furnished to the IRP - no cooperation from the Committee of Creditors who are not attending the CoC Meetings and not ready to contribute the cost of CIRP - no liquid assets with the Corporate Debtor to cover the cost of the CIRP and liquidation process. HELD THAT:- As the CIRP period is already over and no resolution plan is pending or approved for our consideration and as the maximum period prescribed under Section 12 of the Code is already over taking resort to Section 33(1)(a), it is necessary to order for liquidation of the Corporate Debtor. Application allowed.
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