https://www.taxtmi.com/caselaws?id=294033 In liquidation under the insolvency framework, liquidation is a last resort and revival through compromise or arrangement must be explored before outright sale of the corporate debtor's assets. Where no resolution plan had been approved and the statutory period had expired, interference with the liquidation order was not warranted, but the liquidator was still required to attempt a section 230 Companies Act process to assess possible revival and value maximisation. The liquidation order was therefore left undisturbed, with directions to proceed first with revival-oriented steps before any final sale of assets. en-us Mon, 29 Apr 2019 00:00:00 +0530 Fri, 19 Nov 2021 10:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294033 In liquidation under the insolvency framework, liquidation is a last resort and revival through compromise or arrangement must be explored before outright sale of the corporate debtor's assets. Where no resolution plan had been approved and the statutory period had expired, interference with the liquidation order was not warranted, but the liquidator was still required to attempt a section 230 Companies Act process to assess possible revival and value maximisation. The liquidation order was therefore left undisturbed, with directions to proceed first with revival-oriented steps before any final sale of assets. Case-Laws Insolvency and Bankruptcy Mon, 29 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294033