https://www.taxtmi.com/caselaws?id=407695 The NCLT rejected the Resolution Applicant's request for modification of the approved Resolution Plan and the reinstatement of the Committee of Creditors. Due to the Applicant's failure to implement the plan, the NCLT ordered the liquidation of the Corporate Debtor, appointing a Liquidator to oversee the process in accordance with the I&B Code. The decision highlighted the significance of complying with approved plans and the consequence of non-compliance leading to liquidation. en-us Fri, 07 May 2021 00:00:00 +0530 Wed, 19 May 2021 08:38:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407695 The NCLT rejected the Resolution Applicant's request for modification of the approved Resolution Plan and the reinstatement of the Committee of Creditors. Due to the Applicant's failure to implement the plan, the NCLT ordered the liquidation of the Corporate Debtor, appointing a Liquidator to oversee the process in accordance with the I&B Code. The decision highlighted the significance of complying with approved plans and the consequence of non-compliance leading to liquidation. Case-Laws Insolvency and Bankruptcy Fri, 07 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407695