https://www.taxtmi.com/caselaws?id=406407 Liquidation under the Insolvency and Bankruptcy Code, 2016 was approved after the resolution plan process failed and the committee of creditors sanctioned liquidation. The resolution professional was appointed as liquidator, with directions to comply with the liquidation framework, issue the required public announcement, secure cooperation from personnel, and take charge of the corporate debtor's affairs after cessation of the moratorium. The liquidator was also directed to endeavour to sell the business as a going concern during liquidation, with ordinary liquidation distribution to follow if such sale did not materialise within the stipulated period. Employee discharge was made subject to continuation of business as a going concern. en-us Thu, 08 Apr 2021 00:00:00 +0530 Tue, 13 Apr 2021 15:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406407 Liquidation under the Insolvency and Bankruptcy Code, 2016 was approved after the resolution plan process failed and the committee of creditors sanctioned liquidation. The resolution professional was appointed as liquidator, with directions to comply with the liquidation framework, issue the required public announcement, secure cooperation from personnel, and take charge of the corporate debtor's affairs after cessation of the moratorium. The liquidator was also directed to endeavour to sell the business as a going concern during liquidation, with ordinary liquidation distribution to follow if such sale did not materialise within the stipulated period. Employee discharge was made subject to continuation of business as a going concern. Case-Laws Insolvency and Bankruptcy Thu, 08 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406407