https://www.taxtmi.com/caselaws?id=385941 The NCLT approved the liquidation of the Corporate Debtor, M/s. S. Kumars Nationwide Ltd., following the rejection of the Resolution Plan due to concerns over its fairness and viability. The CoC voted to reject the plan, leading to the appointment of Mr. Om Prakash Agarwal as the Liquidator with a monthly fee of Rs. 4 Lakhs. Despite objections from the Resolution Professional, the NCLT upheld the CoC's decision, citing the need for efficient liquidation proceedings. en-us Wed, 19 Jun 2019 00:00:00 +0530 Wed, 18 Sep 2019 08:29:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385941 The NCLT approved the liquidation of the Corporate Debtor, M/s. S. Kumars Nationwide Ltd., following the rejection of the Resolution Plan due to concerns over its fairness and viability. The CoC voted to reject the plan, leading to the appointment of Mr. Om Prakash Agarwal as the Liquidator with a monthly fee of Rs. 4 Lakhs. Despite objections from the Resolution Professional, the NCLT upheld the CoC's decision, citing the need for efficient liquidation proceedings. Case-Laws Insolvency and Bankruptcy Wed, 19 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385941