TaxTMI 
TaxTMI 
2022 (10) TMI 1143
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...., MEMBER (TECHNICAL) AND BARUN MITRA, MEMBER (TECHNICAL) For the Appellant : Mr. Rajesh Bohra, Advocate. For the Respondent : None ORDER Heard learned counsel for the Appellant. This Appeal has been filed against order dated 23.06.2022 by which order the Adjudicating Authority has directed for liquidation of the Corporate Debtor. Learned counsel for the Appellant challenging the order contends....
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....eyed to RP that since the Corporate Debtor was non-functional and completely shut since the year 2002, its machinery has almost become scrap with some land and building which is also in a dilapidated condition, plus it is not a going concern since last about 19 years and there is also no possibility of it being a going concern in near future. Therefore, in such circumstances, continuation of CIRP ....
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....e filed pursuant to a separate resolution passed by the Committee of Creditors. RESOLVED FURTHER THAT the Resolution Professional be and is hereby authorised to make an appropriate application seeking an order of liquidation of the Corporate Debtor as per the provisions contained in Sec. 33(2) of the Insolvency and Bankruptcy Code, 2016"" 5. The grievance of the Appellant is that CoC's decision....
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....he decision to liquidate the corporate debtor, any time after its constitution under subsection (1) of section 21 and before the confirmation of the resolution plan, including at any time before the preparation of the information memorandum.]" 7. The Explanation under Section 33 (2) has been inserted by Act of 26 of 2019 contains the legislative declaration and intention. The CoC in the Legislati....