https://www.taxtmi.com/caselaws?id=411365 The Adjudicating Authority ordered the immediate liquidation of a corporate debtor under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, based on a resolution approved by the Committee of Creditors (CoC) with 100% voting rights. The Resolution Professional was appointed as the Liquidator, tasked with adhering to specified powers and duties. The CoC unanimously approved the liquidation resolution due to the corporate debtor's lack of value, assets, and ongoing business activities. The judgment outlined the cessation of powers of the Board of Directors, legal proceedings during liquidation, discharge of officers and employees, filing requirements, and set forth further procedural instructions. en-us Tue, 10 Aug 2021 00:00:00 +0530 Tue, 24 Aug 2021 08:14:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411365 The Adjudicating Authority ordered the immediate liquidation of a corporate debtor under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, based on a resolution approved by the Committee of Creditors (CoC) with 100% voting rights. The Resolution Professional was appointed as the Liquidator, tasked with adhering to specified powers and duties. The CoC unanimously approved the liquidation resolution due to the corporate debtor's lack of value, assets, and ongoing business activities. The judgment outlined the cessation of powers of the Board of Directors, legal proceedings during liquidation, discharge of officers and employees, filing requirements, and set forth further procedural instructions. Case-Laws Insolvency and Bankruptcy Tue, 10 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411365