https://www.taxtmi.com/caselaws?id=391995 The Adjudicating Authority upheld the liquidation order for the Corporate Debtor after the Committee of Creditors decided to close the Corporate Insolvency Resolution Process due to the absence of a resolution plan. An Association of Employees of Suspended Management's request to consider their Resolution Plan was rejected as the Association was not a registered body, and the CoC's decision to proceed with liquidation was upheld. The Authority emphasized the limited scope for judicial intervention in commercial decisions of the CoC unless they contravene the law. The Liquidator was appointed to oversee the liquidation process in accordance with the Insolvency and Bankruptcy Code. en-us Wed, 28 Aug 2019 00:00:00 +0530 Wed, 12 Feb 2020 07:55:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391995 The Adjudicating Authority upheld the liquidation order for the Corporate Debtor after the Committee of Creditors decided to close the Corporate Insolvency Resolution Process due to the absence of a resolution plan. An Association of Employees of Suspended Management's request to consider their Resolution Plan was rejected as the Association was not a registered body, and the CoC's decision to proceed with liquidation was upheld. The Authority emphasized the limited scope for judicial intervention in commercial decisions of the CoC unless they contravene the law. The Liquidator was appointed to oversee the liquidation process in accordance with the Insolvency and Bankruptcy Code. Case-Laws Insolvency and Bankruptcy Wed, 28 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391995