https://www.taxtmi.com/caselaws?id=289745 The National Company Law Tribunal, Ahmedabad, allowed the Committee of Creditors' application for liquidation under section 33 of the Insolvency and Bankruptcy Code. The Tribunal upheld the COC's decision for liquidation, respecting their commercial wisdom. The order included directives for the cessation of the moratorium, appointment of a Liquidator, transfer of management powers, and cooperation of Corporate Debtor's personnel. Legal proceedings against the debtor were restricted, except those initiated by the Liquidator. The Tribunal emphasized the COC's authority in maximizing asset value and approved the liquidation, appointing a specific individual as the Liquidator. en-us Thu, 05 Dec 2019 00:00:00 +0530 Wed, 19 Aug 2020 10:22:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289745 The National Company Law Tribunal, Ahmedabad, allowed the Committee of Creditors' application for liquidation under section 33 of the Insolvency and Bankruptcy Code. The Tribunal upheld the COC's decision for liquidation, respecting their commercial wisdom. The order included directives for the cessation of the moratorium, appointment of a Liquidator, transfer of management powers, and cooperation of Corporate Debtor's personnel. Legal proceedings against the debtor were restricted, except those initiated by the Liquidator. The Tribunal emphasized the COC's authority in maximizing asset value and approved the liquidation, appointing a specific individual as the Liquidator. Case-Laws Insolvency and Bankruptcy Thu, 05 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289745