ORDER

1. This application is filed by the Liquidator of the Corporate Debtor M/s Saptarishi Hotels Private Limited (hereinafter referred “Corporate Debtor”), u/s 35 (1)(n) and Section 60(5)(c) of Insolvency and Bankruptcy Code 2016, read with Regulation 45 (3)(a) of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 (Liquidation Regulations) seeking closure of Liquidation Process of the Corporate Debtor as the Corporate Debtor is sold as a going concern in Liquidation.

2. This Tribunal had admitted the Company Petition bearing CP. (IB).No.599/7/HDB/2019 filed by the Punjab National Bank/Financial Creditor Section 7 of Insolvency and Bankruptcy Code 2016, (“IBC”) and ordered the commencement of Corporate Insolvency Resolution Process (“CIRP”) of the Corporate Debtor vide order dated 18.01.2021 and appointed Mr.Taduvai. Siva Nagaraja as an Interim Resolution Professional(“IRP”). Subsequently, IRP was continued as Resolution Professional of the Corporate Debtor.

3. It is averred that when there was no Successful Resolution of the Corporate Debtor as there was no Resolution Plan approved by the Committee of Creditors (“CoC”), the Resolution Professional f