https://www.taxtmi.com/caselaws?id=296193 The Tribunal ordered the liquidation of the Corporate Debtor (CD) as no further resolution plan was received within the stipulated period, in accordance with Section 33 of the Insolvency and Bankruptcy Code, 2016. The liabilities of the CD exceeded available assets, indicating insolvency. The erstwhile management's opposition to liquidation was overruled, and the Liquidator was directed to handle claims by Operational Creditors and investigate potential fraudulent transfers by the previous management. A new liquidator was appointed with detailed directions to carry out the liquidation process in compliance with regulatory requirements. en-us Wed, 31 Jul 2019 00:00:00 +0530 Fri, 09 Jul 2021 09:32:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296193 The Tribunal ordered the liquidation of the Corporate Debtor (CD) as no further resolution plan was received within the stipulated period, in accordance with Section 33 of the Insolvency and Bankruptcy Code, 2016. The liabilities of the CD exceeded available assets, indicating insolvency. The erstwhile management's opposition to liquidation was overruled, and the Liquidator was directed to handle claims by Operational Creditors and investigate potential fraudulent transfers by the previous management. A new liquidator was appointed with detailed directions to carry out the liquidation process in compliance with regulatory requirements. Case-Laws Insolvency and Bankruptcy Wed, 31 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296193