https://www.taxtmi.com/caselaws?id=401441 The judgment allows the application for liquidation under Section 33(2) of the IBC, appointing the IRP as the Liquidator for the Corporate Debtor. The CoC's decision for liquidation, based on commercial wisdom, is upheld without judicial interference. The moratorium under Section 14 of the IBC ceases upon the liquidation order, with the Liquidator tasked to manage proceedings and creditor payments. The judgment outlines the Liquidator's powers, duties, and fee entitlement, emphasizing CoC's discretion in maximizing asset value. The application is granted, directing compliance with specified observations and orders. en-us Thu, 06 Aug 2020 00:00:00 +0530 Tue, 08 Dec 2020 10:59:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401441 The judgment allows the application for liquidation under Section 33(2) of the IBC, appointing the IRP as the Liquidator for the Corporate Debtor. The CoC's decision for liquidation, based on commercial wisdom, is upheld without judicial interference. The moratorium under Section 14 of the IBC ceases upon the liquidation order, with the Liquidator tasked to manage proceedings and creditor payments. The judgment outlines the Liquidator's powers, duties, and fee entitlement, emphasizing CoC's discretion in maximizing asset value. The application is granted, directing compliance with specified observations and orders. Case-Laws Insolvency and Bankruptcy Thu, 06 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401441