https://www.taxtmi.com/caselaws?id=403215 An application for liquidation under section 33(2) of the Insolvency and Bankruptcy Code, 2016 was found unsupported by a proper committee of creditors resolution or sufficient material showing why liquidation was necessary. The record also did not demonstrate compliance with Regulation 39C of the CIRP Regulations, including adequate details on the basis for liquidation and how the committee had applied its mind. On that material, the liquidation request was treated as not maintainable and was dismissed, with liberty to file a fresh application supported by relevant material. en-us Tue, 08 Sep 2020 00:00:00 +0530 Fri, 22 Jan 2021 10:48:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403215 An application for liquidation under section 33(2) of the Insolvency and Bankruptcy Code, 2016 was found unsupported by a proper committee of creditors resolution or sufficient material showing why liquidation was necessary. The record also did not demonstrate compliance with Regulation 39C of the CIRP Regulations, including adequate details on the basis for liquidation and how the committee had applied its mind. On that material, the liquidation request was treated as not maintainable and was dismissed, with liberty to file a fresh application supported by relevant material. Case-Laws Insolvency and Bankruptcy Tue, 08 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403215