https://www.taxtmi.com/caselaws?id=386813 The Tribunal upheld the order of liquidation of the Corporate Debtor, dismissing the challenge based on alleged irregularities in the appointment of the Resolution Professional, collusion, bias, and fraud. Emphasizing adherence to timelines under the Insolvency and Bankruptcy Code, it stated that challenges should have been raised at the appropriate stage. The Tribunal affirmed the Committee of Creditors' decision-making authority and highlighted that the Adjudicating Authority cannot interfere with commercial decisions. While finding no grounds for interference with the liquidation order, it set aside a specific direction in the order. en-us Wed, 03 Jul 2019 00:00:00 +0530 Fri, 13 Dec 2019 14:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386813 The Tribunal upheld the order of liquidation of the Corporate Debtor, dismissing the challenge based on alleged irregularities in the appointment of the Resolution Professional, collusion, bias, and fraud. Emphasizing adherence to timelines under the Insolvency and Bankruptcy Code, it stated that challenges should have been raised at the appropriate stage. The Tribunal affirmed the Committee of Creditors' decision-making authority and highlighted that the Adjudicating Authority cannot interfere with commercial decisions. While finding no grounds for interference with the liquidation order, it set aside a specific direction in the order. Case-Laws Insolvency and Bankruptcy Wed, 03 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386813