2021 (10) TMI 710

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....he Corporate Debtor, Advance Home and Personal Care Private Limited. 2. The facts in brief are that the operational creditor, Model Logistics Private Limited, had filed an application under Section 9 of the Code for initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The said application was admitted by this Tribunal on 05.09.2019 initiating CIRP against the corporate debtor and appointed Mr. Vivek Parti as the Interim Resolution Professional (IRP). 3. Thereafter the IRP made the Public Announcement in 'Form A' in respect of initiation of CIRP of CD as well intimated to the all suspended directors of the CD. The IRP after collecting and verifying claims received and constituted Committee ....

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....sidering this fact the CoC in its 11th meeting held on 03.10.2020 approved the resolution for liquidation of the Corporate Debtor and fixed the fee of the liquidator. 9. The RP has now filed present application with a prayer for liquidation of the Corporate Debtor as the CoC in its second meeting approved the Resolution for Liquidation of CD with 100% voting share. 10. In view of the submission made by the parties the liquidation has to follow as recommended by the Committee of Creditors in terms of provisions of Section 33(2) 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 pr....