https://www.taxtmi.com/caselaws?id=408671 The NCLT considered a CoC resolution under the Insolvency and Bankruptcy Code, 2016, following evaluation of resolution plans in CIRP. As the plans were found not feasible or viable, the CoC resolved to seek liquidation under Section 33(2), and the Adjudicating Authority accepted the application. Liquidation of the corporate debtor was ordered, the existing resolution professional was appointed liquidator, and consequential directions were issued on moratorium, employee discharge, liquidation conduct, investigation of financial affairs, pending applications, and the preliminary report. en-us Mon, 31 May 2021 00:00:00 +0530 Fri, 18 Jun 2021 08:12:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408671 The NCLT considered a CoC resolution under the Insolvency and Bankruptcy Code, 2016, following evaluation of resolution plans in CIRP. As the plans were found not feasible or viable, the CoC resolved to seek liquidation under Section 33(2), and the Adjudicating Authority accepted the application. Liquidation of the corporate debtor was ordered, the existing resolution professional was appointed liquidator, and consequential directions were issued on moratorium, employee discharge, liquidation conduct, investigation of financial affairs, pending applications, and the preliminary report. Case-Laws Insolvency and Bankruptcy Mon, 31 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408671