https://www.taxtmi.com/caselaws?id=407839 The Adjudicating Authority ordered the liquidation of the Corporate Debtor under Section 33 of the IB Code, 2016, following the Committee of Creditors' (COC) rejection of the Resolution Plan. The COC's decision, backed by the Supreme Court's emphasis on its commercial wisdom, led to the cessation of the moratorium and the appointment of a Liquidator. The Interim Resolution Professional (IRP) and Resolution Professional (RP) were discharged, and the COC was instructed to settle their dues. The application for liquidation was granted, marking the commencement of the liquidation process with the Liquidator assuming control of the Corporate Debtor's affairs. en-us Mon, 12 Apr 2021 00:00:00 +0530 Sat, 26 Oct 2024 17:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407839 The Adjudicating Authority ordered the liquidation of the Corporate Debtor under Section 33 of the IB Code, 2016, following the Committee of Creditors' (COC) rejection of the Resolution Plan. The COC's decision, backed by the Supreme Court's emphasis on its commercial wisdom, led to the cessation of the moratorium and the appointment of a Liquidator. The Interim Resolution Professional (IRP) and Resolution Professional (RP) were discharged, and the COC was instructed to settle their dues. The application for liquidation was granted, marking the commencement of the liquidation process with the Liquidator assuming control of the Corporate Debtor's affairs. Case-Laws IBC Mon, 12 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407839