https://www.taxtmi.com/caselaws?id=386934 Liquidation was not interfered with because no viable resolution plan had emerged after publication of the information memorandum, but liquidation was treated as a last resort. The corporate debtor should, as far as possible, be kept alive as a going concern during liquidation, and the liquidator must first verify claims, take custody and control of assets, and then explore compromise or arrangement under Section 230 of the Companies Act, 2013 before any sale of assets. The earlier Section 391 approach under the Companies Act, 1956 was noted only as supporting the same revival-oriented principle. en-us Wed, 17 Jul 2019 00:00:00 +0530 Sat, 12 Oct 2019 07:55:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386934 Liquidation was not interfered with because no viable resolution plan had emerged after publication of the information memorandum, but liquidation was treated as a last resort. The corporate debtor should, as far as possible, be kept alive as a going concern during liquidation, and the liquidator must first verify claims, take custody and control of assets, and then explore compromise or arrangement under Section 230 of the Companies Act, 2013 before any sale of assets. The earlier Section 391 approach under the Companies Act, 1956 was noted only as supporting the same revival-oriented principle. Case-Laws Insolvency and Bankruptcy Wed, 17 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386934