https://www.taxtmi.com/caselaws?id=410527 The tribunal ordered the liquidation of the corporate debtor, M/s. Saubhagya Ornaments Private Limited, due to irregularities and lack of genuine financial standing. Despite efforts to find a resolution plan, the Committee of Creditors decided unanimously to proceed with liquidation. The Resolution Professional was appointed as the Liquidator to carry out the process in accordance with the Insolvency and Bankruptcy Code, 2016. The order marked the end of the Moratorium under Section 14 and the beginning of a new Moratorium under Section 33(5), with instructions for compliance and reporting. The tribunal discharged the officers, employees, and workmen of the debtor and directed communication of the order to all relevant parties. en-us Mon, 26 Jul 2021 00:00:00 +0530 Wed, 04 Aug 2021 08:34:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410527 The tribunal ordered the liquidation of the corporate debtor, M/s. Saubhagya Ornaments Private Limited, due to irregularities and lack of genuine financial standing. Despite efforts to find a resolution plan, the Committee of Creditors decided unanimously to proceed with liquidation. The Resolution Professional was appointed as the Liquidator to carry out the process in accordance with the Insolvency and Bankruptcy Code, 2016. The order marked the end of the Moratorium under Section 14 and the beginning of a new Moratorium under Section 33(5), with instructions for compliance and reporting. The tribunal discharged the officers, employees, and workmen of the debtor and directed communication of the order to all relevant parties. Case-Laws Insolvency and Bankruptcy Mon, 26 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410527