https://www.taxtmi.com/caselaws?id=291330 Failure of the CIRP, absence of a resolution plan, and the Committee of Creditors' approval of liquidation satisfied the conditions for liquidation under the Insolvency and Bankruptcy Code. The corporate debtor was therefore placed into liquidation, with the Resolution Professional appointed as Liquidator. Pending applications concerning assets, attachment, possession and demarcation became infructuous at the resolution stage. The depositor-protection statute did not displace the insolvency process because the corporate debtor was not a financial establishment under that law; however, title, release and de-attachment disputes concerning attached property remained subject to the remedial framework under that statute. en-us Mon, 30 Sep 2019 00:00:00 +0530 Fri, 06 Nov 2020 09:06:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291330 Failure of the CIRP, absence of a resolution plan, and the Committee of Creditors' approval of liquidation satisfied the conditions for liquidation under the Insolvency and Bankruptcy Code. The corporate debtor was therefore placed into liquidation, with the Resolution Professional appointed as Liquidator. Pending applications concerning assets, attachment, possession and demarcation became infructuous at the resolution stage. The depositor-protection statute did not displace the insolvency process because the corporate debtor was not a financial establishment under that law; however, title, release and de-attachment disputes concerning attached property remained subject to the remedial framework under that statute. Case-Laws Insolvency and Bankruptcy Mon, 30 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291330