https://www.taxtmi.com/caselaws?id=377265 Liquidation under the Insolvency and Bankruptcy Code is treated as a last resort, with revival and continuation of the corporate debtor remaining the primary objective. Where no live resolution plan survives, interference with liquidation orders may be declined. At the liquidation stage, the liquidator should keep the corporate debtor as a going concern, verify claims, take custody and control of assets, and first explore a compromise or arrangement under Section 230 of the Companies Act, 2013 before any piecemeal sale of assets. The Adjudicating Authority may pass further orders if required during that process. en-us Tue, 29 Jan 2019 00:00:00 +0530 Tue, 26 Mar 2019 13:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377265 Liquidation under the Insolvency and Bankruptcy Code is treated as a last resort, with revival and continuation of the corporate debtor remaining the primary objective. Where no live resolution plan survives, interference with liquidation orders may be declined. At the liquidation stage, the liquidator should keep the corporate debtor as a going concern, verify claims, take custody and control of assets, and first explore a compromise or arrangement under Section 230 of the Companies Act, 2013 before any piecemeal sale of assets. The Adjudicating Authority may pass further orders if required during that process. Case-Laws Insolvency and Bankruptcy Tue, 29 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377265