https://www.taxtmi.com/caselaws?id=402918 Where the committee of creditors validly resolves that no resolution is possible and approves liquidation with the prescribed voting share, the Adjudicating Authority is bound to order liquidation under the Insolvency and Bankruptcy Code. The resolution professional may be appointed as liquidator if consent is given and the authorisation requirements under the Code and the insolvency professional regulations are met. The liquidation stage then commences, with the liquidator assuming control and the board's authority ceasing as a statutory consequence. en-us Tue, 08 Dec 2020 00:00:00 +0530 Sat, 30 Jan 2021 18:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402918 Where the committee of creditors validly resolves that no resolution is possible and approves liquidation with the prescribed voting share, the Adjudicating Authority is bound to order liquidation under the Insolvency and Bankruptcy Code. The resolution professional may be appointed as liquidator if consent is given and the authorisation requirements under the Code and the insolvency professional regulations are met. The liquidation stage then commences, with the liquidator assuming control and the board's authority ceasing as a statutory consequence. Case-Laws Insolvency and Bankruptcy Tue, 08 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402918