Liquidation of corporate debtor begins when no compliant resolution plan is received or approved under insolvency law. Liquidation of a corporate debtor is triggered where no resolution plan is received within the prescribed period or a resolution plan is rejected for non-compliance, in which event the Adjudicating Authority must order liquidation, issue a public announcement, send the order to the registering authority, declare a moratorium subject to specified exceptions, and appoint a liquidator. The provision also allows, in specified circumstances, restoration of the corporate insolvency resolution process on an application supported by not less than sixty-six per cent voting share, and permits liquidation where the committee of creditors decides to liquidate or dissolve the corporate debtor before confirmation of the resolution plan.