https://www.taxtmi.com/caselaws?id=383553 Where no resolution plan is approved within the CIRP period, section 33(1) requires liquidation of the corporate debtor, and the Resolution Professional may be appointed as liquidator under section 34(1) if consent is given. An objection seeking fresh valuation will not justify interference where two registered valuers were appointed within time, a third valuer was added because of wide report variation, and no legally sustainable defect such as conflict of interest or breach of the valuation framework is shown. The liquidation process then proceeds under the Code and liquidation regulations. en-us Wed, 01 May 2019 00:00:00 +0530 Fri, 26 Jul 2019 08:30:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383553 Where no resolution plan is approved within the CIRP period, section 33(1) requires liquidation of the corporate debtor, and the Resolution Professional may be appointed as liquidator under section 34(1) if consent is given. An objection seeking fresh valuation will not justify interference where two registered valuers were appointed within time, a third valuer was added because of wide report variation, and no legally sustainable defect such as conflict of interest or breach of the valuation framework is shown. The liquidation process then proceeds under the Code and liquidation regulations. Case-Laws Insolvency and Bankruptcy Wed, 01 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383553