https://www.taxtmi.com/caselaws?id=379658 The Tribunal upheld the liquidation order challenged by the Promoter/Director and Shareholder of the Corporate Debtor, emphasizing that settlement opportunities must align with specific stages outlined in the IBC. ARCIL's challenge against the CoC's decision was dismissed, leading to the liquidation order due to the lack of viable Resolution Plans. The Tribunal clarified settlement stages under the IBC and directed the Liquidator to explore revival options before resorting to liquidation, emphasizing compliance with the IBC and Section 230 of the Companies Act, 2013 to safeguard the Corporate Debtor's interests. en-us Wed, 27 Feb 2019 00:00:00 +0530 Wed, 08 May 2019 15:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379658 The Tribunal upheld the liquidation order challenged by the Promoter/Director and Shareholder of the Corporate Debtor, emphasizing that settlement opportunities must align with specific stages outlined in the IBC. ARCIL's challenge against the CoC's decision was dismissed, leading to the liquidation order due to the lack of viable Resolution Plans. The Tribunal clarified settlement stages under the IBC and directed the Liquidator to explore revival options before resorting to liquidation, emphasizing compliance with the IBC and Section 230 of the Companies Act, 2013 to safeguard the Corporate Debtor's interests. Case-Laws Insolvency and Bankruptcy Wed, 27 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379658