https://www.taxtmi.com/caselaws?id=291666 Where the corporate insolvency resolution process yields no resolution plan and the committee of creditors unanimously resolves to liquidate, the tribunal will ordinarily accept that commercial wisdom under the Insolvency and Bankruptcy Code, 2016. The record showed repeated invitations for expression of interest, revised eligibility criteria, and continued failure to receive any plan, after which liquidation was approved under section 33(1). The resolution professional was permitted to act as liquidator, and the process was to proceed, as far as possible, with the corporate debtor sold as a going concern. en-us Wed, 09 Oct 2019 00:00:00 +0530 Fri, 20 Nov 2020 19:21:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291666 Where the corporate insolvency resolution process yields no resolution plan and the committee of creditors unanimously resolves to liquidate, the tribunal will ordinarily accept that commercial wisdom under the Insolvency and Bankruptcy Code, 2016. The record showed repeated invitations for expression of interest, revised eligibility criteria, and continued failure to receive any plan, after which liquidation was approved under section 33(1). The resolution professional was permitted to act as liquidator, and the process was to proceed, as far as possible, with the corporate debtor sold as a going concern. Case-Laws Insolvency and Bankruptcy Wed, 09 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291666