https://www.taxtmi.com/caselaws?id=394826 The Bench ordered the liquidation of the Corporate Debtor under section 33(3) of the Insolvency & Bankruptcy Code, 2016, due to the Resolution Applicant's failure to comply with the approved Resolution Plan by not fulfilling financial commitments within specified timelines. The erstwhile Resolution Professional was appointed as the Liquidator, with directions issued for the liquidation process, including public notice issuance, transfer of powers to the Liquidator, and prohibition of legal proceedings without approval. The order discharged officers, employees, and workmen of the Corporate Debtor, except where business operations continue during liquidation. en-us Fri, 29 Nov 2019 00:00:00 +0530 Mon, 27 Apr 2020 08:25:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394826 The Bench ordered the liquidation of the Corporate Debtor under section 33(3) of the Insolvency & Bankruptcy Code, 2016, due to the Resolution Applicant's failure to comply with the approved Resolution Plan by not fulfilling financial commitments within specified timelines. The erstwhile Resolution Professional was appointed as the Liquidator, with directions issued for the liquidation process, including public notice issuance, transfer of powers to the Liquidator, and prohibition of legal proceedings without approval. The order discharged officers, employees, and workmen of the Corporate Debtor, except where business operations continue during liquidation. Case-Laws Insolvency and Bankruptcy Fri, 29 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394826