https://www.taxtmi.com/caselaws?id=398772 Liquidation of the corporate debtor was ordered under Section 33(2) of the Insolvency and Bankruptcy Code, 2016 after the Committee of Creditors resolved to liquidate and no compliant resolution plan was received within the CIRP period. The Tribunal noted that an information memorandum and invitation for expression of interest had been published, but no viable plan emerged, and the CoC, in exercise of its commercial wisdom, reiterated liquidation even after considering extension. It also recorded the absence of opposition from the promoters or directors and issued consequential directions for appointment of the resolution professional as liquidator, cessation of moratorium, transaction investigation, and statutory intimation. en-us Tue, 05 May 2020 00:00:00 +0530 Tue, 05 Nov 2024 12:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398772 Liquidation of the corporate debtor was ordered under Section 33(2) of the Insolvency and Bankruptcy Code, 2016 after the Committee of Creditors resolved to liquidate and no compliant resolution plan was received within the CIRP period. The Tribunal noted that an information memorandum and invitation for expression of interest had been published, but no viable plan emerged, and the CoC, in exercise of its commercial wisdom, reiterated liquidation even after considering extension. It also recorded the absence of opposition from the promoters or directors and issued consequential directions for appointment of the resolution professional as liquidator, cessation of moratorium, transaction investigation, and statutory intimation. Case-Laws IBC Tue, 05 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398772