https://www.taxtmi.com/caselaws?id=291647 The Adjudicating Authority upheld the Committee of Creditors' (CoC) decision to recommend liquidation of the non-operational Corporate Debtor due to the absence of viable Resolution Plans. It emphasized the CoC's commercial wisdom in maximizing asset value and payment distribution, refraining from interference. The appointment of a Liquidator was directed, with instructions for legal proceedings and compliance with the Insolvency and Bankruptcy Code. The Company Liquidator was authorized to charge fees based on the liquidation estate assets, concluding the matter in accordance with the IB Code. en-us Thu, 19 Dec 2019 00:00:00 +0530 Fri, 20 Nov 2020 12:08:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291647 The Adjudicating Authority upheld the Committee of Creditors' (CoC) decision to recommend liquidation of the non-operational Corporate Debtor due to the absence of viable Resolution Plans. It emphasized the CoC's commercial wisdom in maximizing asset value and payment distribution, refraining from interference. The appointment of a Liquidator was directed, with instructions for legal proceedings and compliance with the Insolvency and Bankruptcy Code. The Company Liquidator was authorized to charge fees based on the liquidation estate assets, concluding the matter in accordance with the IB Code. Case-Laws Insolvency and Bankruptcy Thu, 19 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291647