https://www.taxtmi.com/caselaws?id=400917 The application for dissolution of the Corporate Debtor under Section 54 of the IBC was dismissed by the Tribunal due to the ongoing investigation, as dissolution would impede asset recovery and benefits to the Corporate Debtor. The Tribunal directed the Ministry of Corporate Affairs to expedite the investigation and granted liberty to reapply post-investigation closure. Dissolution was deemed premature, emphasizing the importance of not dissolving a company while investigations are pending to facilitate proper asset recovery and distribution. en-us Mon, 07 Sep 2020 00:00:00 +0530 Mon, 23 Nov 2020 11:59:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400917 The application for dissolution of the Corporate Debtor under Section 54 of the IBC was dismissed by the Tribunal due to the ongoing investigation, as dissolution would impede asset recovery and benefits to the Corporate Debtor. The Tribunal directed the Ministry of Corporate Affairs to expedite the investigation and granted liberty to reapply post-investigation closure. Dissolution was deemed premature, emphasizing the importance of not dissolving a company while investigations are pending to facilitate proper asset recovery and distribution. Case-Laws Insolvency and Bankruptcy Mon, 07 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400917