https://www.taxtmi.com/caselaws?id=289802 The Tribunal approved the resolution for the initiation of the Liquidation Process and appointed a Liquidator under the Insolvency and Bankruptcy Code, 2016. The Committee of Creditors opted for liquidation due to the company's defunct status and lack of tangible assets. Financial constraints, including insufficient funds to cover insolvency costs and pending tax refunds, were noted. Despite challenges and creditor reluctance, the Tribunal appointed a Liquidator, detailing the liquidation process, cooperation requirements, legal restrictions, and fee determination based on assets for fee recovery from tax refunds. en-us Fri, 28 Jun 2019 00:00:00 +0530 Mon, 17 Apr 2023 17:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289802 The Tribunal approved the resolution for the initiation of the Liquidation Process and appointed a Liquidator under the Insolvency and Bankruptcy Code, 2016. The Committee of Creditors opted for liquidation due to the company's defunct status and lack of tangible assets. Financial constraints, including insufficient funds to cover insolvency costs and pending tax refunds, were noted. Despite challenges and creditor reluctance, the Tribunal appointed a Liquidator, detailing the liquidation process, cooperation requirements, legal restrictions, and fee determination based on assets for fee recovery from tax refunds. Case-Laws Insolvency and Bankruptcy Fri, 28 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289802