https://www.taxtmi.com/caselaws?id=295321 Liquidation may be ordered where the Committee of Creditors unanimously resolves to liquidate the corporate debtor and no resolution plan is received, and the Adjudicating Authority may proceed accordingly. The text also states that a personal guarantor's mortgaged property can be brought within the liquidation-related recovery process where the debt is secured against that property, and section 60(2) permits proceedings concerning the personal guarantor before the same NCLT when corporate insolvency or liquidation is pending. On that basis, liquidation of the corporate debtor was approved, the Resolution Professional was appointed as Liquidator, and the guarantor's mortgaged asset was directed to be proceeded against. en-us Tue, 20 Mar 2018 00:00:00 +0530 Sat, 29 May 2021 08:28:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295321 Liquidation may be ordered where the Committee of Creditors unanimously resolves to liquidate the corporate debtor and no resolution plan is received, and the Adjudicating Authority may proceed accordingly. The text also states that a personal guarantor's mortgaged property can be brought within the liquidation-related recovery process where the debt is secured against that property, and section 60(2) permits proceedings concerning the personal guarantor before the same NCLT when corporate insolvency or liquidation is pending. On that basis, liquidation of the corporate debtor was approved, the Resolution Professional was appointed as Liquidator, and the guarantor's mortgaged asset was directed to be proceeded against. Case-Laws Insolvency and Bankruptcy Tue, 20 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295321