https://www.taxtmi.com/caselaws?id=372280 Where the Committee of Creditors found no feasible resolution plan and resolved to liquidate the corporate debtor, the Adjudicating Authority exercised its power under section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016 and ordered liquidation. The record indicated that the resolution process had failed to produce a viable revival plan and that the CoC had taken a considered commercial decision to seek liquidation. Consequential directions followed for cessation of moratorium, vesting of powers in the Liquidator, restriction on suits, assistance by personnel, the Liquidator's fee, and periodic progress reports under the liquidation regulations. en-us Thu, 01 Nov 2018 00:00:00 +0530 Thu, 20 Dec 2018 08:09:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372280 Where the Committee of Creditors found no feasible resolution plan and resolved to liquidate the corporate debtor, the Adjudicating Authority exercised its power under section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016 and ordered liquidation. The record indicated that the resolution process had failed to produce a viable revival plan and that the CoC had taken a considered commercial decision to seek liquidation. Consequential directions followed for cessation of moratorium, vesting of powers in the Liquidator, restriction on suits, assistance by personnel, the Liquidator's fee, and periodic progress reports under the liquidation regulations. Case-Laws Insolvency and Bankruptcy Thu, 01 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372280