https://www.taxtmi.com/caselaws?id=403946 The Supreme Court held that the Adjudicating Authority lacks jurisdiction to interfere in the Committee of Creditors' commercial wisdom regarding the liquidation of a Corporate Debtor under the Insolvency and Bankruptcy Code, 2016. The judgment ordered the cessation of the moratorium, appointment of a Liquidator, issuance of public announcements, and transfer of powers to the Liquidator. The Company Liquidator is empowered to charge fees based on asset value, and the Corporate Debtor's personnel must cooperate. The application for liquidation was allowed, with the Resolution Professional appointed as the Liquidator, excluding the lockdown period from the Corporate Insolvency Resolution Process duration. en-us Mon, 10 Aug 2020 00:00:00 +0530 Thu, 11 Feb 2021 20:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403946 The Supreme Court held that the Adjudicating Authority lacks jurisdiction to interfere in the Committee of Creditors' commercial wisdom regarding the liquidation of a Corporate Debtor under the Insolvency and Bankruptcy Code, 2016. The judgment ordered the cessation of the moratorium, appointment of a Liquidator, issuance of public announcements, and transfer of powers to the Liquidator. The Company Liquidator is empowered to charge fees based on asset value, and the Corporate Debtor's personnel must cooperate. The application for liquidation was allowed, with the Resolution Professional appointed as the Liquidator, excluding the lockdown period from the Corporate Insolvency Resolution Process duration. Case-Laws Insolvency and Bankruptcy Mon, 10 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403946