https://www.taxtmi.com/caselaws?id=405544 The Tribunal allowed the application for liquidation of the Corporate Debtor due to its non-operational status and lack of significant assets, appointing Mr. Dilipkumar Natvarlal Jagad as the Liquidator. Allegations of improper conduct during the Corporate Insolvency Resolution Process were dismissed. The Tribunal upheld the commercial wisdom of the Committee of Creditors in deciding on liquidation, emphasizing the CoC's unanimous decision based on careful assessment. The Liquidator was tasked with managing the liquidation process in accordance with regulations, with all powers of the Corporate Debtor's personnel vested in the Liquidator. en-us Fri, 05 Mar 2021 00:00:00 +0530 Tue, 23 Mar 2021 08:41:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405544 The Tribunal allowed the application for liquidation of the Corporate Debtor due to its non-operational status and lack of significant assets, appointing Mr. Dilipkumar Natvarlal Jagad as the Liquidator. Allegations of improper conduct during the Corporate Insolvency Resolution Process were dismissed. The Tribunal upheld the commercial wisdom of the Committee of Creditors in deciding on liquidation, emphasizing the CoC's unanimous decision based on careful assessment. The Liquidator was tasked with managing the liquidation process in accordance with regulations, with all powers of the Corporate Debtor's personnel vested in the Liquidator. Case-Laws Insolvency and Bankruptcy Fri, 05 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405544