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Corporate debtor having less liquidation value than its due claim was to be ordered for liquidation

October 9, 2019[2019] 109 taxmann.com 189 (NCLT- Chennai ) (SB)
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IBC : Where no resolution applicant came forward with a viable and feasible resolution plan for corporate debtor, under CIRP, thus, CoC could not get any opportunity to approve resolution plan and finally passed unanimous resolution for liquidation; basing on said resolution corporate debtor having less liquidation value than its claim due, was to be ordered for liquidation

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