https://www.taxtmi.com/caselaws?id=398186 The appeals in this case arising from a Corporate Insolvency Resolution Process resulted in the dismissal of the appeals challenging the liquidation order. The Adjudicating Authority approved the liquidation due to the absence of a viable resolution plan and concrete settlement proposals, emphasizing the importance of the Committee of Creditors' commercial wisdom in such decisions. The judgment highlighted the Committee's authority to decide on liquidation and the possibility for the Promoter/Ex-Director to submit a revival scheme under the Companies Act, even post-liquidation. The appeals were dismissed for lack of merit, affirming adherence to legal provisions in insolvency proceedings. en-us Fri, 04 Sep 2020 00:00:00 +0530 Wed, 09 Sep 2020 10:18:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398186 The appeals in this case arising from a Corporate Insolvency Resolution Process resulted in the dismissal of the appeals challenging the liquidation order. The Adjudicating Authority approved the liquidation due to the absence of a viable resolution plan and concrete settlement proposals, emphasizing the importance of the Committee of Creditors' commercial wisdom in such decisions. The judgment highlighted the Committee's authority to decide on liquidation and the possibility for the Promoter/Ex-Director to submit a revival scheme under the Companies Act, even post-liquidation. The appeals were dismissed for lack of merit, affirming adherence to legal provisions in insolvency proceedings. Case-Laws Insolvency and Bankruptcy Fri, 04 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398186