ORDER

1. This is an application under Section 54 of the Insolvency and Bankruptcy Code, 2016 for “Dissolution” of the Corporate Debtor filed by the Applicant/Resolution Professional seeking the following reliefs;

a) Pass an order directing dissolution of the Corporate Debtor Viz. Renaissance Corporation Limited under Section 54 of the Insolvency and Bankruptcy Code, 2016 ;

b) Pass such other order(s) in favor of the Applicant herein as this Hon’ble Tribunal may deem fit

2. The Corporate Insolvency Resolution Process ("CIRP") was initiated against the Corporate Debtor namely Renaissance Corporation Limited vide order dated 15.03.2022 in CP (IB) No. 326 of 2021 filed by the Financial Creditor under Section 7 of the IBC. The Applicant was appointed as the Interim Resolution Professional and subsequently as the Resolution Professional.

3. As no Resolution Plan was approved by the Committee of Creditors ("CoC") during the CIRP period, an application under Section 33(1)(a) of the IBC was filed on 07.10.2022 seeking initiation of the liquidation C.P.(IB) 326 MB/2021 process. This Hon’ble Tribunal, vide order dated 18.10.2022, ordered the liquidation of the Corporate Debtor and appointed th