https://www.taxtmi.com/caselaws?id=405592 Where no resolution plan was received during the CIRP and the committee of creditors unanimously resolved to liquidate, the text states that liquidation under the Insolvency and Bankruptcy Code was appropriate. It also notes that the COVID-19 lockdown period was excluded for timeline computation, so the liquidation application remained within time. On appointment, the resolution professional is ordinarily appointed as liquidator under section 34, subject to eligibility, written consent, and creditor approval. The text further refers to standard liquidation directions, including public announcement, reporting requirements, moratorium-like restrictions, and disposal of pending or infructuous applications. en-us Tue, 02 Mar 2021 00:00:00 +0530 Wed, 24 Mar 2021 09:06:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405592 Where no resolution plan was received during the CIRP and the committee of creditors unanimously resolved to liquidate, the text states that liquidation under the Insolvency and Bankruptcy Code was appropriate. It also notes that the COVID-19 lockdown period was excluded for timeline computation, so the liquidation application remained within time. On appointment, the resolution professional is ordinarily appointed as liquidator under section 34, subject to eligibility, written consent, and creditor approval. The text further refers to standard liquidation directions, including public announcement, reporting requirements, moratorium-like restrictions, and disposal of pending or infructuous applications. Case-Laws Insolvency and Bankruptcy Tue, 02 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405592