https://www.taxtmi.com/caselaws?id=409655 The Tribunal ordered the liquidation of the Corporate Debtor due to the Resolution Applicant's failure to infuse funds as agreed in the approved Resolution Plan, contravening the Insolvency and Bankruptcy Code. The Tribunal emphasized the importance of adhering to commitments, maximizing stakeholder value through liquidation as the Liquidation Value exceeded the Plan amount. The Financial Creditor's application under Section 33(3) was allowed, appointing the former Resolution Professional as the Liquidator to proceed with the liquidation process promptly. en-us Wed, 30 Jun 2021 00:00:00 +0530 Wed, 14 Jul 2021 06:26:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409655 The Tribunal ordered the liquidation of the Corporate Debtor due to the Resolution Applicant's failure to infuse funds as agreed in the approved Resolution Plan, contravening the Insolvency and Bankruptcy Code. The Tribunal emphasized the importance of adhering to commitments, maximizing stakeholder value through liquidation as the Liquidation Value exceeded the Plan amount. The Financial Creditor's application under Section 33(3) was allowed, appointing the former Resolution Professional as the Liquidator to proceed with the liquidation process promptly. Case-Laws Insolvency and Bankruptcy Wed, 30 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409655