https://www.taxtmi.com/caselaws?id=408069 Liquidation may be initiated under the Insolvency and Bankruptcy Code, 2016 where the CIRP period expires without approval of any resolution plan and no valid extension is obtained. On that basis, the tribunal accepted the resolution professional's request for liquidation, noted that no resolution plan had been received within the statutory period, and found that the committee of creditors had not secured the requisite approval for extension. It then directed appointment of the liquidator, cessation of the earlier moratorium, commencement of the liquidation moratorium, and conduct of proceedings in accordance with the Code and applicable regulations. en-us Thu, 20 May 2021 00:00:00 +0530 Mon, 31 May 2021 08:35:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408069 Liquidation may be initiated under the Insolvency and Bankruptcy Code, 2016 where the CIRP period expires without approval of any resolution plan and no valid extension is obtained. On that basis, the tribunal accepted the resolution professional's request for liquidation, noted that no resolution plan had been received within the statutory period, and found that the committee of creditors had not secured the requisite approval for extension. It then directed appointment of the liquidator, cessation of the earlier moratorium, commencement of the liquidation moratorium, and conduct of proceedings in accordance with the Code and applicable regulations. Case-Laws Insolvency and Bankruptcy Thu, 20 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408069