https://www.taxtmi.com/caselaws?id=411770 The Tribunal ordered the liquidation of the Corporate Debtor as a going concern due to non-compliance with resolution plan submissions and failure to deposit the required amount. The Resolution Professional was appointed as the Liquidator, with specific directions for the liquidation process, public announcement, and transfer of powers. The judgment emphasized the limited role of the Adjudicating Authority in reviewing commercial decisions of the Committee of Creditors, citing relevant legal provisions and precedents. Compliance with the Insolvency and Bankruptcy Code and Liquidation Process Regulations was mandated, along with cooperation from personnel connected to the Corporate Debtor. en-us Thu, 05 Aug 2021 00:00:00 +0530 Fri, 03 Sep 2021 09:05:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411770 The Tribunal ordered the liquidation of the Corporate Debtor as a going concern due to non-compliance with resolution plan submissions and failure to deposit the required amount. The Resolution Professional was appointed as the Liquidator, with specific directions for the liquidation process, public announcement, and transfer of powers. The judgment emphasized the limited role of the Adjudicating Authority in reviewing commercial decisions of the Committee of Creditors, citing relevant legal provisions and precedents. Compliance with the Insolvency and Bankruptcy Code and Liquidation Process Regulations was mandated, along with cooperation from personnel connected to the Corporate Debtor. Case-Laws Insolvency and Bankruptcy Thu, 05 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411770