https://www.taxtmi.com/caselaws?id=407228 The Tribunal declined to order liquidation of the Corporate Debtor, Oxford Facilities Management, despite the CoC's resolution due to the absence of immovable assets. The Tribunal emphasized the need to await the NCLAT's decision on the pending appeal challenging the admission order, considering the fixed deposit as the sole asset. Concerns about the irreversible consequences of liquidation led to the rejection of the liquidation application and dismissal of the challenge to the CoC's decision. The RP was given liberty to mention any earlier NCLAT orders, and the main CP was scheduled for progress reporting on a future date. en-us Fri, 16 Apr 2021 00:00:00 +0530 Tue, 04 May 2021 08:52:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407228 The Tribunal declined to order liquidation of the Corporate Debtor, Oxford Facilities Management, despite the CoC's resolution due to the absence of immovable assets. The Tribunal emphasized the need to await the NCLAT's decision on the pending appeal challenging the admission order, considering the fixed deposit as the sole asset. Concerns about the irreversible consequences of liquidation led to the rejection of the liquidation application and dismissal of the challenge to the CoC's decision. The RP was given liberty to mention any earlier NCLAT orders, and the main CP was scheduled for progress reporting on a future date. Case-Laws Insolvency and Bankruptcy Fri, 16 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407228