https://www.taxtmi.com/caselaws?id=398266 The Tribunal upheld the liquidation order due to the Resolution Applicant's failure to comply with the approved Resolution Plan, leading to inordinate delays and non-compliance. The decision to initiate liquidation proceedings was supported by the overwhelming majority of the Committee of Creditors. The Tribunal appointed a liquidator and approved liquidation costs, emphasizing the mandatory adherence to statutory requirements. The Resolution Applicant's financial viability and eligibility were questioned, leading to the dismissal of the appeal and the return of the deposited amount. en-us Tue, 08 Sep 2020 00:00:00 +0530 Mon, 15 Nov 2021 11:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398266 The Tribunal upheld the liquidation order due to the Resolution Applicant's failure to comply with the approved Resolution Plan, leading to inordinate delays and non-compliance. The decision to initiate liquidation proceedings was supported by the overwhelming majority of the Committee of Creditors. The Tribunal appointed a liquidator and approved liquidation costs, emphasizing the mandatory adherence to statutory requirements. The Resolution Applicant's financial viability and eligibility were questioned, leading to the dismissal of the appeal and the return of the deposited amount. Case-Laws Insolvency and Bankruptcy Tue, 08 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398266