https://www.taxtmi.com/caselaws?id=409122 Where the Committee of Creditors resolved to liquidate the corporate debtor and no resolution plan was forthcoming, liquidation was ordered and the approved Resolution Professional was appointed as Liquidator. The order reflected satisfaction of the statutory prerequisites for liquidation under the insolvency framework. Once liquidation commenced, the moratorium ceased to operate, and the powers of the board of directors and key managerial personnel vested in the Liquidator. The Liquidator was authorised to administer the liquidation process, coordinate with authorities, recover dues and receivables, and act subject to the Code's restrictions on proceedings after liquidation. en-us Mon, 21 Jun 2021 00:00:00 +0530 Wed, 30 Jun 2021 08:21:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409122 Where the Committee of Creditors resolved to liquidate the corporate debtor and no resolution plan was forthcoming, liquidation was ordered and the approved Resolution Professional was appointed as Liquidator. The order reflected satisfaction of the statutory prerequisites for liquidation under the insolvency framework. Once liquidation commenced, the moratorium ceased to operate, and the powers of the board of directors and key managerial personnel vested in the Liquidator. The Liquidator was authorised to administer the liquidation process, coordinate with authorities, recover dues and receivables, and act subject to the Code's restrictions on proceedings after liquidation. Case-Laws Insolvency and Bankruptcy Mon, 21 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409122