https://www.taxtmi.com/caselaws?id=386284 Liquidation under Section 33(2) of the Insolvency and Bankruptcy Code was justified because no resolution plan was received within the CIRP period, the Committee of Creditors found no realistic chance of revival, and it unanimously approved liquidation with 100% voting. The Tribunal therefore ordered liquidation of the corporate debtor and appointed the resolution professional as liquidator. The order also noted the statutory consequences of liquidation, including cessation of moratorium and vesting of powers in the liquidator. en-us Fri, 14 Jun 2019 00:00:00 +0530 Thu, 26 Sep 2019 06:56:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386284 Liquidation under Section 33(2) of the Insolvency and Bankruptcy Code was justified because no resolution plan was received within the CIRP period, the Committee of Creditors found no realistic chance of revival, and it unanimously approved liquidation with 100% voting. The Tribunal therefore ordered liquidation of the corporate debtor and appointed the resolution professional as liquidator. The order also noted the statutory consequences of liquidation, including cessation of moratorium and vesting of powers in the liquidator. Case-Laws Insolvency and Bankruptcy Fri, 14 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386284