https://www.taxtmi.com/caselaws?id=402553 Once the maximum period for completion of the corporate insolvency resolution process expires without acceptance of a resolution plan, liquidation follows as a statutory consequence under the Insolvency and Bankruptcy Code, 2016. Where the extension beyond 330 days has been declined, the conditions for liquidation under Section 33(1) are attracted, and a later resolution plan submitted by the promoters does not displace that outcome. Revival in liquidation remains possible only in accordance with the Code and the applicable liquidation regulations, including the relevant eligibility requirements. en-us Wed, 23 Dec 2020 00:00:00 +0530 Wed, 06 Jan 2021 14:11:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402553 Once the maximum period for completion of the corporate insolvency resolution process expires without acceptance of a resolution plan, liquidation follows as a statutory consequence under the Insolvency and Bankruptcy Code, 2016. Where the extension beyond 330 days has been declined, the conditions for liquidation under Section 33(1) are attracted, and a later resolution plan submitted by the promoters does not displace that outcome. Revival in liquidation remains possible only in accordance with the Code and the applicable liquidation regulations, including the relevant eligibility requirements. Case-Laws Insolvency and Bankruptcy Wed, 23 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402553