https://www.taxtmi.com/caselaws?id=288139 Where a corporate insolvency resolution process has been duly initiated and the Committee of Creditors has unanimously concluded that the corporate debtor cannot be revived, liquidation may follow under section 33(2) of the Insolvency and Bankruptcy Code when no resolution plan is received within the prescribed period. The record described a sole financial creditor, no claims from other stakeholders, preparation of the information memorandum, issuance of Form G, receipt of expressions of interest, and failure to submit any viable plan. On that basis, liquidation was ordered, the resolution professional was appointed as liquidator, and consequential liquidation directions, including cessation of moratorium and public announcement, were issued. en-us Fri, 26 Oct 2018 00:00:00 +0530 Fri, 22 May 2020 10:34:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288139 Where a corporate insolvency resolution process has been duly initiated and the Committee of Creditors has unanimously concluded that the corporate debtor cannot be revived, liquidation may follow under section 33(2) of the Insolvency and Bankruptcy Code when no resolution plan is received within the prescribed period. The record described a sole financial creditor, no claims from other stakeholders, preparation of the information memorandum, issuance of Form G, receipt of expressions of interest, and failure to submit any viable plan. On that basis, liquidation was ordered, the resolution professional was appointed as liquidator, and consequential liquidation directions, including cessation of moratorium and public announcement, were issued. Case-Laws Insolvency and Bankruptcy Fri, 26 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288139