https://www.taxtmi.com/caselaws?id=407232 Where the CIRP period had expired, no resolution plan or constructive proposal was pending, and the corporate debtor was not a going concern, liquidation was permitted. In view of serious allegations raised by the financial creditors against the resolution professional, the Tribunal directed that a different person be appointed as liquidator rather than the existing resolution professional. The claim for CIRP costs was not finally allowed in the liquidation application itself; the bills and supporting particulars were directed to be placed before the committee of creditors for ratification and approval within the time fixed by the Tribunal. en-us Tue, 20 Apr 2021 00:00:00 +0530 Tue, 04 May 2021 08:52:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407232 Where the CIRP period had expired, no resolution plan or constructive proposal was pending, and the corporate debtor was not a going concern, liquidation was permitted. In view of serious allegations raised by the financial creditors against the resolution professional, the Tribunal directed that a different person be appointed as liquidator rather than the existing resolution professional. The claim for CIRP costs was not finally allowed in the liquidation application itself; the bills and supporting particulars were directed to be placed before the committee of creditors for ratification and approval within the time fixed by the Tribunal. Case-Laws Insolvency and Bankruptcy Tue, 20 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407232