https://www.taxtmi.com/caselaws?id=392190 Liquidation under the Insolvency and Bankruptcy Code was triggered after the Resolution Professional informed the tribunal that the corporate debtor's records, asset position, and operational details could not be properly ascertained, the information memorandum and EOI process had stalled, and the Committee of Creditors had unanimously approved liquidation. Section 33(2) requires liquidation once the adjudicating authority is notified of a duly approved CoC decision before confirmation of a resolution plan. On that statutory basis, the liquidation provisions were applied and a liquidator was appointed. en-us Tue, 01 Oct 2019 00:00:00 +0530 Sat, 15 Feb 2020 08:34:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392190 Liquidation under the Insolvency and Bankruptcy Code was triggered after the Resolution Professional informed the tribunal that the corporate debtor's records, asset position, and operational details could not be properly ascertained, the information memorandum and EOI process had stalled, and the Committee of Creditors had unanimously approved liquidation. Section 33(2) requires liquidation once the adjudicating authority is notified of a duly approved CoC decision before confirmation of a resolution plan. On that statutory basis, the liquidation provisions were applied and a liquidator was appointed. Case-Laws Insolvency and Bankruptcy Tue, 01 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392190