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        Case ID :
        IBC

        NCLAT dismissed appeal regarding corporate debtor's liquidation....

        Corporate Debtor's Liquidation Upheld: 100% Voting Resolution Validates Asset Sale Process Under Insolvency Code

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                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.
                                NCLAT dismissed appeal regarding corporate debtor's liquidation. The CoC, with 100% vote share, decided to liquidate after no compliant resolution plans were received during CIRP. The Tribunal upheld the CoC's commercial wisdom, finding no arbitrary decision in liquidation process. The Tribunal referenced precedents affirming CoC's statutory power to initiate liquidation at any stage before resolution plan confirmation. The decision emphasized that when no viable resolution plan exists and statutory procedures were followed, judicial interference is unwarranted. The liquidator was authorized to sell assets through various methods, including standalone, slump sale, or parcel sales, with potential for exploring going concern proposals subsequently.
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