https://www.taxtmi.com/caselaws?id=405133 The Adjudicating Authority ordered the liquidation of the Corporate Debtor, Amrit Feeds Limited, due to the absence of any Resolution Plan during the Corporate Insolvency Resolution Process. The Committee of Creditors approved the appointment of Mr. Pratim Bayal as the Liquidator, but objections were raised by the suspended board of directors. Despite the majority vote by the CoC, the appointment process was found to have procedural errors, leading to the appointment of Mr. Sunil Mohan Acharya as the Liquidator. The judgment emphasized compliance with the Insolvency and Bankruptcy Code and clarified the role of the CoC in such appointments. en-us Fri, 19 Feb 2021 00:00:00 +0530 Fri, 12 Mar 2021 08:37:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405133 The Adjudicating Authority ordered the liquidation of the Corporate Debtor, Amrit Feeds Limited, due to the absence of any Resolution Plan during the Corporate Insolvency Resolution Process. The Committee of Creditors approved the appointment of Mr. Pratim Bayal as the Liquidator, but objections were raised by the suspended board of directors. Despite the majority vote by the CoC, the appointment process was found to have procedural errors, leading to the appointment of Mr. Sunil Mohan Acharya as the Liquidator. The judgment emphasized compliance with the Insolvency and Bankruptcy Code and clarified the role of the CoC in such appointments. Case-Laws Insolvency and Bankruptcy Fri, 19 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405133