https://www.taxtmi.com/caselaws?id=408304 Liquidation under the Insolvency and Bankruptcy Code is required where the Committee of Creditors resolves, with the prescribed voting threshold and before approval of a resolution plan, to liquidate the corporate debtor. Following unsuccessful resolution plans and expiry of the CIRP period, the Committee of Creditors approved liquidation with a 96.70% voting share, resulting in liquidation of the corporate debtor. The Resolution Professional, having provided written consent, was appointed liquidator under the statutory default rule. The Committee of Creditors has no role in that appointment unless the Adjudicating Authority replaces the Resolution Professional. en-us Fri, 28 May 2021 00:00:00 +0530 Mon, 07 Jun 2021 08:36:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408304 Liquidation under the Insolvency and Bankruptcy Code is required where the Committee of Creditors resolves, with the prescribed voting threshold and before approval of a resolution plan, to liquidate the corporate debtor. Following unsuccessful resolution plans and expiry of the CIRP period, the Committee of Creditors approved liquidation with a 96.70% voting share, resulting in liquidation of the corporate debtor. The Resolution Professional, having provided written consent, was appointed liquidator under the statutory default rule. The Committee of Creditors has no role in that appointment unless the Adjudicating Authority replaces the Resolution Professional. Case-Laws Insolvency and Bankruptcy Fri, 28 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408304