https://www.taxtmi.com/caselaws?id=296568 The Appellate Tribunal upheld the order of Liquidation under Section 33(1) of the Insolvency & Bankruptcy Code due to the absence of a submitted resolution plan within the required timeframe. The Tribunal instructed the Liquidator to comply with Section 230 of the Companies Act, 2013, for potential compromises or arrangements, and to verify creditor claims as per Sections 33, 38, 39, and 40 of the I&B Code. If no viable revival plan emerges, the Liquidator is to proceed with asset sales. The appeals were resolved with these directives, incurring no costs. en-us Tue, 26 Feb 2019 00:00:00 +0530 Thu, 29 Jul 2021 10:47:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296568 The Appellate Tribunal upheld the order of Liquidation under Section 33(1) of the Insolvency & Bankruptcy Code due to the absence of a submitted resolution plan within the required timeframe. The Tribunal instructed the Liquidator to comply with Section 230 of the Companies Act, 2013, for potential compromises or arrangements, and to verify creditor claims as per Sections 33, 38, 39, and 40 of the I&B Code. If no viable revival plan emerges, the Liquidator is to proceed with asset sales. The appeals were resolved with these directives, incurring no costs. Case-Laws Law of Competition Tue, 26 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296568