Corporate Debtor moves to liquidation; Promoter may propose revival under Companies Act Section 230 if eligible. https://www.taxtmi.com/highlights?id=54678 Liquidation of Corporate Debtor - no resolution plan was received during the CIRP proceedings - The Adjudicating Authority has rightly observed that even after pushing the Corporate Debtor into liquidation, Promoter/Ex-Director of the Corporate Debtor can take recourse to Section 230 of the Companies Act, 2013 by submitting a scheme for revival of the Corporate Debtor, subject of course to eligibility of the applicant. - AT en-us Wed, 09 Sep 2020 10:18:17 +0530 Wed, 09 Sep 2020 10:18:17 +0530 TaxTMI RSS Generator Corporate Debtor moves to liquidation; Promoter may propose revival under Companies Act Section 230 if eligible. https://www.taxtmi.com/highlights?id=54678 Liquidation of Corporate Debtor - no resolution plan was received during the CIRP proceedings - The Adjudicating Authority has rightly observed that even after pushing the Corporate Debtor into liquidation, Promoter/Ex-Director of the Corporate Debtor can take recourse to Section 230 of the Companies Act, 2013 by submitting a scheme for revival of the Corporate Debtor, subject of course to eligibility of the applicant. - AT Highlights Insolvency and Bankruptcy Wed, 09 Sep 2020 10:18:17 +0530 https://www.taxtmi.com/highlights?id=54678