https://www.taxtmi.com/caselaws?id=282558 Liquidation under the insolvency framework was upheld where the statutory period had expired and no approved resolution plan existed, so the liquidation order was not interfered with. At the same time, the liquidator was required to keep the corporate debtor as a going concern and, before sale of assets, explore revival-oriented measures such as a compromise or arrangement under Section 230 of the Companies Act, 2013. If revival failed, sale of the business as a going concern could be considered, with outright liquidation remaining a last resort. en-us Wed, 29 May 2019 00:00:00 +0530 Tue, 13 Aug 2019 11:11:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282558 Liquidation under the insolvency framework was upheld where the statutory period had expired and no approved resolution plan existed, so the liquidation order was not interfered with. At the same time, the liquidator was required to keep the corporate debtor as a going concern and, before sale of assets, explore revival-oriented measures such as a compromise or arrangement under Section 230 of the Companies Act, 2013. If revival failed, sale of the business as a going concern could be considered, with outright liquidation remaining a last resort. Case-Laws Insolvency and Bankruptcy Wed, 29 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282558