https://www.taxtmi.com/caselaws?id=407595 Where the Committee of Creditors, exercising commercial wisdom, concluded that the corporate debtor had no scope for revival or business continuity, the adjudicating authority ordered liquidation. The record showed that the debtor had no operative business or meaningful assets and that there was no opposition to the request for liquidation. The interim resolution professional had also given consent to act as liquidator, so the liquidation application was allowed and the insolvency process was directed to proceed under the appointed liquidator. en-us Fri, 16 Apr 2021 00:00:00 +0530 Fri, 14 May 2021 10:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407595 Where the Committee of Creditors, exercising commercial wisdom, concluded that the corporate debtor had no scope for revival or business continuity, the adjudicating authority ordered liquidation. The record showed that the debtor had no operative business or meaningful assets and that there was no opposition to the request for liquidation. The interim resolution professional had also given consent to act as liquidator, so the liquidation application was allowed and the insolvency process was directed to proceed under the appointed liquidator. Case-Laws Insolvency and Bankruptcy Fri, 16 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407595