https://www.taxtmi.com/caselaws?id=398717 The Adjudicating Authority upheld the Committee of Creditors' decision for liquidation of the Corporate Debtor under section 33 of the Insolvency and Bankruptcy Code, 2016, due to the lack of assets or income for revival. The Authority emphasized non-interference with the CoC's commercial wisdom. Orders were issued for the liquidation process, including appointing a Liquidator, ceasing the moratorium, and transferring powers. The Liquidator was tasked with conducting the proceedings, with entitlement to fees. The application for liquidation was allowed, and the Liquidator was appointed, disposing of the case. en-us Fri, 31 Jul 2020 00:00:00 +0530 Wed, 23 Sep 2020 08:04:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398717 The Adjudicating Authority upheld the Committee of Creditors' decision for liquidation of the Corporate Debtor under section 33 of the Insolvency and Bankruptcy Code, 2016, due to the lack of assets or income for revival. The Authority emphasized non-interference with the CoC's commercial wisdom. Orders were issued for the liquidation process, including appointing a Liquidator, ceasing the moratorium, and transferring powers. The Liquidator was tasked with conducting the proceedings, with entitlement to fees. The application for liquidation was allowed, and the Liquidator was appointed, disposing of the case. Case-Laws Insolvency and Bankruptcy Fri, 31 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398717