https://www.taxtmi.com/caselaws?id=406507 The Tribunal rejected the liquidator's prayer for dissolution of the Corporate Debtor under section 54 of the Insolvency and Bankruptcy Code, 2016. Instead, the Tribunal issued directions for the formation of the Stakeholders' Consultation Committee, release of a fixed deposit held by HDFC Bank, realization of trade receivables and assets, and completion of the liquidation process by a specified deadline. The suspended management/promoters were also directed to assist the liquidator in asset realization. The application was disposed of with these observations and directions. en-us Tue, 09 Feb 2021 00:00:00 +0530 Thu, 15 Apr 2021 12:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406507 The Tribunal rejected the liquidator's prayer for dissolution of the Corporate Debtor under section 54 of the Insolvency and Bankruptcy Code, 2016. Instead, the Tribunal issued directions for the formation of the Stakeholders' Consultation Committee, release of a fixed deposit held by HDFC Bank, realization of trade receivables and assets, and completion of the liquidation process by a specified deadline. The suspended management/promoters were also directed to assist the liquidator in asset realization. The application was disposed of with these observations and directions. Case-Laws Insolvency and Bankruptcy Tue, 09 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406507