https://www.taxtmi.com/caselaws?id=296684 The National Company Law Tribunal, Chennai, ordered the liquidation of M/s. Air Carnival Private Limited following the Committee of Creditors' decision due to the unviability of revival and insufficient assets to cover outstanding debts. The Resolution Professional's application for liquidation was granted, appointing them as the Company Liquidator. The order outlined the cessation of moratorium, transfer of powers to the Liquidator, and inclusion of assets for liquidation. The decision emphasized the need for liquidation over revival based on the Corporate Debtor's circumstances. en-us Thu, 20 Dec 2018 00:00:00 +0530 Tue, 07 Sep 2021 16:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296684 The National Company Law Tribunal, Chennai, ordered the liquidation of M/s. Air Carnival Private Limited following the Committee of Creditors' decision due to the unviability of revival and insufficient assets to cover outstanding debts. The Resolution Professional's application for liquidation was granted, appointing them as the Company Liquidator. The order outlined the cessation of moratorium, transfer of powers to the Liquidator, and inclusion of assets for liquidation. The decision emphasized the need for liquidation over revival based on the Corporate Debtor's circumstances. Case-Laws Insolvency and Bankruptcy Thu, 20 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296684