https://www.taxtmi.com/caselaws?id=401693 Where the corporate insolvency resolution process failed to produce a resolution plan, and the Committee of Creditors resolved that liquidation was the feasible course, the Tribunal ordered liquidation under the insolvency framework. The decision rested on the absence of a viable resolution process outcome, the corporate debtor's non-operational status, and no expression of interest having been received. The Resolution Professional was appointed as Liquidator, and consequential directions were issued for public announcement, intimation to authorities, cessation of moratorium, discharge of employees, and conduct of the liquidation process in accordance with the applicable regulations. en-us Thu, 19 Nov 2020 00:00:00 +0530 Tue, 15 Dec 2020 10:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401693 Where the corporate insolvency resolution process failed to produce a resolution plan, and the Committee of Creditors resolved that liquidation was the feasible course, the Tribunal ordered liquidation under the insolvency framework. The decision rested on the absence of a viable resolution process outcome, the corporate debtor's non-operational status, and no expression of interest having been received. The Resolution Professional was appointed as Liquidator, and consequential directions were issued for public announcement, intimation to authorities, cessation of moratorium, discharge of employees, and conduct of the liquidation process in accordance with the applicable regulations. Case-Laws Insolvency and Bankruptcy Thu, 19 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401693