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Judgment
Per: B. S.V. PRAKASH KUMAR, MEMBER (JUDICIAL)
It is an application filed by the Liquidator u/s.54(1) of the Code for dissolution of this Corporate Debtor on the ground that no asset is lying in the company as on the date resolution passed by the CoC recommending for liquidation of the Corporate Debtor and the same being reflected in the resolution dated 29.03.2019 passed by the CoC stating that the land & building and plant & machinery have already been sold by the secured Financial Creditor namely State Bank of India, therefore, there is no possibility of getting a resolution plan on issuing Invitation for Expression of Interest ("EOI") and the same is being reflected in the Final Report stating that no liquidation value has been arrived at, we are of the view that it is fit case for dissolution, therefore, this Corporate Debtor is dissolved as envisaged under Sec.54(1) of the Insolvency and Bankruptcy Code from this date i.e. 11.12.2019 with a direction to this Liquidator to serve this copy of the order for dissolution of the Corporate Debtor company to the RoC-Chennai within seven days hereof.
Accordingly, this MA/1354/2019 is hereby allowed.