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Liquidation plea allowed as in absence of resolution plan CoC decided to liquidate corporate debtor by 100% vote

March 16, 2020[2020] 114 662 (NCLT - Hyd.)

IBC : Where in case of corporate debtor, Resolution Professional published expression of interest in newspapers but no resolution plan was received and, thus, Committee of Creditors decided to liquidate corporate debtor by 100 per cent voting share, in such circumstances, application filed under section 33 seeking approval of Adjudicating Authority for initiation of liquidation process, was to be allowed

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