https://www.taxtmi.com/caselaws?id=387481 Liquidation under the Insolvency and Bankruptcy Code, 2016 should not proceed as a mechanical step to dissolution. The commentary states that the liquidator must, as far as possible, preserve the corporate debtor as a going concern by first exploring revival-oriented measures, including a compromise or arrangement under section 230 of the Companies Act, 2013, and by following the liquidation framework to maximise value and protect stakeholder interests. Sale of assets is to follow only after revival efforts fail. The request for further time to disturb the liquidation orders was declined, but the process was directed to include these revival steps. en-us Thu, 08 Aug 2019 00:00:00 +0530 Thu, 24 Oct 2019 14:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387481 Liquidation under the Insolvency and Bankruptcy Code, 2016 should not proceed as a mechanical step to dissolution. The commentary states that the liquidator must, as far as possible, preserve the corporate debtor as a going concern by first exploring revival-oriented measures, including a compromise or arrangement under section 230 of the Companies Act, 2013, and by following the liquidation framework to maximise value and protect stakeholder interests. Sale of assets is to follow only after revival efforts fail. The request for further time to disturb the liquidation orders was declined, but the process was directed to include these revival steps. Case-Laws Insolvency and Bankruptcy Thu, 08 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387481