https://www.taxtmi.com/caselaws?id=407063 The Tribunal allowed the application for liquidation of the Corporate Debtor under Sections 33(1)(a) and 34(1) of the Insolvency and Bankruptcy Code, 2016. The Committee of Creditors unanimously decided to liquidate the company due to its inactivity and lack of interest from potential resolution applicants. The Tribunal appointed a Liquidator, granted necessary powers, and issued directions for the liquidation process, including a public notice and restrictions on legal proceedings against the Corporate Debtor without the Liquidator's approval. The order of liquidation discharged the Corporate Debtor's officers, employees, and workmen, except for ongoing business operations managed by the Liquidator. en-us Mon, 22 Mar 2021 00:00:00 +0530 Fri, 30 Apr 2021 08:23:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407063 The Tribunal allowed the application for liquidation of the Corporate Debtor under Sections 33(1)(a) and 34(1) of the Insolvency and Bankruptcy Code, 2016. The Committee of Creditors unanimously decided to liquidate the company due to its inactivity and lack of interest from potential resolution applicants. The Tribunal appointed a Liquidator, granted necessary powers, and issued directions for the liquidation process, including a public notice and restrictions on legal proceedings against the Corporate Debtor without the Liquidator's approval. The order of liquidation discharged the Corporate Debtor's officers, employees, and workmen, except for ongoing business operations managed by the Liquidator. Case-Laws Insolvency and Bankruptcy Mon, 22 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407063