https://www.taxtmi.com/acts?id=31011 Where a resolution plan is not received or is rejected, or where the committee of creditors resolves to liquidate before plan confirmation, the adjudicating authority must pass a liquidation order, make a public announcement, and notify the corporate debtor's register. A prejudicially affected person may seek liquidation if a confirmed plan is contravened; on finding contravention the authority shall order liquidation. After a liquidation order, suits by or against the corporate debtor are generally barred except those brought by the liquidator with prior approval and specified financial sector proceedings excluded; the order serves as notice of discharge to staff unless business continues under the liquidator. en-us Tue, 02 Jan 2018 14:14:20 +0530 Fri, 13 Aug 2021 14:41:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=31011 Where a resolution plan is not received or is rejected, or where the committee of creditors resolves to liquidate before plan confirmation, the adjudicating authority must pass a liquidation order, make a public announcement, and notify the corporate debtor's register. A prejudicially affected person may seek liquidation if a confirmed plan is contravened; on finding contravention the authority shall order liquidation. After a liquidation order, suits by or against the corporate debtor are generally barred except those brought by the liquidator with prior approval and specified financial sector proceedings excluded; the order serves as notice of discharge to staff unless business continues under the liquidator. Act-Rules IBC Tue, 02 Jan 2018 14:14:20 +0530 https://www.taxtmi.com/acts?id=31011