https://www.taxtmi.com/caselaws?id=407552 Liquidation of the corporate debtor was ordered under the Insolvency and Bankruptcy Code after the extended CIRP produced no resolution plan or prospective investor. The tribunal relied on repeated public announcements, invitations for expression of interest, and the absence of any viable business activity, along with non-cooperation by the erstwhile board, to conclude that the statutory conditions for liquidation were satisfied. Consequential directions were issued on moratorium, employee discharge, transaction investigation, and intimation to authorities, and a liquidator was appointed to conduct the process. en-us Tue, 20 Apr 2021 00:00:00 +0530 Fri, 14 May 2021 08:32:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407552 Liquidation of the corporate debtor was ordered under the Insolvency and Bankruptcy Code after the extended CIRP produced no resolution plan or prospective investor. The tribunal relied on repeated public announcements, invitations for expression of interest, and the absence of any viable business activity, along with non-cooperation by the erstwhile board, to conclude that the statutory conditions for liquidation were satisfied. Consequential directions were issued on moratorium, employee discharge, transaction investigation, and intimation to authorities, and a liquidator was appointed to conduct the process. Case-Laws Insolvency and Bankruptcy Tue, 20 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407552