2021 (4) TMI 1179

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....lled as "the Code"), praying for following reliefs: a. This Hon'ble Tribunal be pleased to give order under Section 33(2) of IBC for liquidation of the Corporate Debtor. b. This Hon'ble Tribunal be pleased to give direction to the petitioner or COC member to release an amount of Rs. 14,92,122/- to the applicant, the other professional and agencies as per the CIRP sheet c. Any other direction as this Hon'ble Tribunal may fit in facts and circumstances of the present case; d. Cost of the present application. 2. The counsel for the Applicant submitted that this Tribunal vide an order dated 15.07.2019 in Company Petition No. 146 of 2019 admitted the petition under Section 8 & 9 of the Code, fil....

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....ther resolved that Resolution Professional be and is hereby authorized to file necessary application with Adjudicating Authority to expediate the process of Liquidation. All committee of creditors members has voted in favour and resolution passed with 100% majority to take Corporate Debtor to liquidation. Resolution Professional Mr. Rajmal Mogra Expressed his inability to act as Liquidator for the Corporate Debtor". ORDER We have heard the Applicant and perused all the documents submitted by them. It is observed from the minutes of the 3rd CoC meeting that the CoC has, with 100% majority, decided to liquidate the Corporate Debtor and relying on the settled principle of law regarding the Commercial Wisdom of the CoC, ....