https://www.taxtmi.com/caselaws?id=291968 Where the Committee of Creditors rejected the resolution plan, no resolution plan was approved despite repeated opportunities, and the CIRP period had expired, the statutory conditions for liquidation under Section 33 of the Insolvency and Bankruptcy Code, 2016 were satisfied. The adjudicating authority treated the Committee of Creditors' assessment of commercial feasibility as commercial wisdom not open to interference, ordered liquidation of the corporate debtor, and appointed the existing resolution professional as liquidator. Consequential directions followed for cessation of moratorium, investigation into the corporate debtor's affairs, and intimation to tax and regulatory authorities. en-us Mon, 23 Sep 2019 00:00:00 +0530 Wed, 02 Dec 2020 18:33:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291968 Where the Committee of Creditors rejected the resolution plan, no resolution plan was approved despite repeated opportunities, and the CIRP period had expired, the statutory conditions for liquidation under Section 33 of the Insolvency and Bankruptcy Code, 2016 were satisfied. The adjudicating authority treated the Committee of Creditors' assessment of commercial feasibility as commercial wisdom not open to interference, ordered liquidation of the corporate debtor, and appointed the existing resolution professional as liquidator. Consequential directions followed for cessation of moratorium, investigation into the corporate debtor's affairs, and intimation to tax and regulatory authorities. Case-Laws Insolvency and Bankruptcy Mon, 23 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291968