https://www.taxtmi.com/caselaws?id=368809 A corporate debtor was found liable to be placed in liquidation under section 33(1) of the Insolvency and Bankruptcy Code, 2016 because the CIRP period had expired without any resolution plan being received. The debtor had ceased business, had no workmen or employees, the committee of creditors declined to extend CIRP beyond 180 days, and no resolution applicant had shown interest despite invitation of plans. On those facts, the statutory conditions for liquidation were satisfied, and liquidation was ordered as the only available course under Chapter III of Part II of the Code. en-us Tue, 28 Aug 2018 00:00:00 +0530 Mon, 15 Oct 2018 14:13:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368809 A corporate debtor was found liable to be placed in liquidation under section 33(1) of the Insolvency and Bankruptcy Code, 2016 because the CIRP period had expired without any resolution plan being received. The debtor had ceased business, had no workmen or employees, the committee of creditors declined to extend CIRP beyond 180 days, and no resolution applicant had shown interest despite invitation of plans. On those facts, the statutory conditions for liquidation were satisfied, and liquidation was ordered as the only available course under Chapter III of Part II of the Code. Case-Laws Insolvency and Bankruptcy Tue, 28 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368809