https://www.taxtmi.com/caselaws?id=367307 Where the corporate insolvency resolution period expired without approval of any resolution plan, liquidation followed as a statutory consequence under the Insolvency and Bankruptcy Code, 2016. The tribunal noted that once the resolution process failed and no fresh offer was received, the corporate debtor became liable to be placed in liquidation. It also recognised that liquidation may proceed as a going concern where the liquidator considers it necessary, because the liquidation regulations expressly contemplate sale of the corporate debtor as a going concern. Liquidation was therefore ordered to proceed under the Code and the applicable regulations. en-us Wed, 08 Aug 2018 00:00:00 +0530 Tue, 18 Sep 2018 08:04:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367307 Where the corporate insolvency resolution period expired without approval of any resolution plan, liquidation followed as a statutory consequence under the Insolvency and Bankruptcy Code, 2016. The tribunal noted that once the resolution process failed and no fresh offer was received, the corporate debtor became liable to be placed in liquidation. It also recognised that liquidation may proceed as a going concern where the liquidator considers it necessary, because the liquidation regulations expressly contemplate sale of the corporate debtor as a going concern. Liquidation was therefore ordered to proceed under the Code and the applicable regulations. Case-Laws Insolvency and Bankruptcy Wed, 08 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367307