https://www.taxtmi.com/caselaws?id=361709 The appeals challenging the initiation of the Liquidation Process under the Insolvency and Bankruptcy Code were dismissed by the Adjudicating Authority. The rejection of Resolution Plans by the Committee of Creditors led to the Liquidation Process for three companies, despite allegations of non-compliance with prescribed provisions. The court found that all procedural requirements had been followed, including the appointment of Interim Resolution Professionals and declaration of Moratorium. The judgment emphasized the importance of compliance with mandatory procedures from the appointment of Resolution Professional to the preparation of the Information Memorandum. The appeals were ultimately dismissed without costs. en-us Thu, 26 Apr 2018 00:00:00 +0530 Wed, 13 Jun 2018 08:54:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361709 The appeals challenging the initiation of the Liquidation Process under the Insolvency and Bankruptcy Code were dismissed by the Adjudicating Authority. The rejection of Resolution Plans by the Committee of Creditors led to the Liquidation Process for three companies, despite allegations of non-compliance with prescribed provisions. The court found that all procedural requirements had been followed, including the appointment of Interim Resolution Professionals and declaration of Moratorium. The judgment emphasized the importance of compliance with mandatory procedures from the appointment of Resolution Professional to the preparation of the Information Memorandum. The appeals were ultimately dismissed without costs. Case-Laws Insolvency and Bankruptcy Thu, 26 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361709