https://www.taxtmi.com/caselaws?id=379789 The Operational Creditor's application under Section 9 of IBC 2016 led to the Corporate Debtor's admission into CIRP. The interim Resolution Professional was replaced, and the CoC made decisions resulting in the rejection of a resolution plan and subsequent liquidation order. Despite objections by an unsuccessful Resolution Applicant, legal considerations upheld the liquidation decision due to the absence of an approved plan. The Liquidator was appointed, with directions for the liquidation process, communication, and reporting in compliance with the Insolvency and Bankruptcy Code. en-us Fri, 01 Mar 2019 00:00:00 +0530 Wed, 08 May 2019 07:21:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379789 The Operational Creditor's application under Section 9 of IBC 2016 led to the Corporate Debtor's admission into CIRP. The interim Resolution Professional was replaced, and the CoC made decisions resulting in the rejection of a resolution plan and subsequent liquidation order. Despite objections by an unsuccessful Resolution Applicant, legal considerations upheld the liquidation decision due to the absence of an approved plan. The Liquidator was appointed, with directions for the liquidation process, communication, and reporting in compliance with the Insolvency and Bankruptcy Code. Case-Laws Insolvency and Bankruptcy Fri, 01 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379789