https://www.taxtmi.com/caselaws?id=402514 The Tribunal approved the application for the liquidation of the Corporate Debtor under sections 33 & 34 of the Insolvency and Bankruptcy Code, 2016. The Committee of Creditors' decision to opt for liquidation due to the lack of viable Resolution Plans and significant assets was upheld. The Tribunal lifted the moratorium, appointed the Resolution Professional as the Liquidator, and outlined the powers and duties of the Liquidator. Legal proceedings against the Corporate Debtor were restricted, except those initiated by the Liquidator with prior approval. The application for liquidation was granted, resolving the matter. en-us Wed, 05 Aug 2020 00:00:00 +0530 Tue, 05 Jan 2021 10:16:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402514 The Tribunal approved the application for the liquidation of the Corporate Debtor under sections 33 & 34 of the Insolvency and Bankruptcy Code, 2016. The Committee of Creditors' decision to opt for liquidation due to the lack of viable Resolution Plans and significant assets was upheld. The Tribunal lifted the moratorium, appointed the Resolution Professional as the Liquidator, and outlined the powers and duties of the Liquidator. Legal proceedings against the Corporate Debtor were restricted, except those initiated by the Liquidator with prior approval. The application for liquidation was granted, resolving the matter. Case-Laws Insolvency and Bankruptcy Wed, 05 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402514