Suggests Direct Liquidation for Companies Over Initiating CIRP Due to Low Resolution Plan Viability in Early Stages.

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Full Text of the Document

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....Initiation of CIRP or liquidation of company - there is hardly any possibility of any Resolution plan likely to be received during first stage of CIRP, if initiated, and thus it would be just and proper to put the Corporate Applicant Debtor under the liquidation process, in order to liquidate the Company, rather than to put it in CIRP in the first instance.....