https://www.taxtmi.com/caselaws?id=403386 The Tribunal dismissed the application for closure of the liquidation process without dissolving the Corporate Debtor, emphasizing adherence to statutory mandates of the IBC and limitations of the IBBI's regulatory powers. The Tribunal found the Liquidator's arrangement incompatible with the Companies Act and highlighted the necessity of dissolving the Corporate Debtor as mandated by Section 54 of the IBC. The Tribunal underscored its duty to ensure regulatory consistency with statutory provisions and rejected the application as misconceived. en-us Wed, 16 Sep 2020 00:00:00 +0530 Wed, 03 Mar 2021 12:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403386 The Tribunal dismissed the application for closure of the liquidation process without dissolving the Corporate Debtor, emphasizing adherence to statutory mandates of the IBC and limitations of the IBBI's regulatory powers. The Tribunal found the Liquidator's arrangement incompatible with the Companies Act and highlighted the necessity of dissolving the Corporate Debtor as mandated by Section 54 of the IBC. The Tribunal underscored its duty to ensure regulatory consistency with statutory provisions and rejected the application as misconceived. Case-Laws Insolvency and Bankruptcy Wed, 16 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403386