https://www.taxtmi.com/caselaws?id=297582 Where no resolution plan secures the required approval within the corporate insolvency resolution process and the CIRP period expires, liquidation follows as the statutory consequence. The resolution professional reported that the revised plan did not obtain the requisite vote of the committee of creditors, leaving no further scope for resolution. On that basis, the adjudicating authority directed liquidation of the corporate debtor and accepted the resolution professional's consent to act as liquidator. en-us Mon, 03 Feb 2020 00:00:00 +0530 Fri, 10 Sep 2021 21:01:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297582 Where no resolution plan secures the required approval within the corporate insolvency resolution process and the CIRP period expires, liquidation follows as the statutory consequence. The resolution professional reported that the revised plan did not obtain the requisite vote of the committee of creditors, leaving no further scope for resolution. On that basis, the adjudicating authority directed liquidation of the corporate debtor and accepted the resolution professional's consent to act as liquidator. Case-Laws Insolvency and Bankruptcy Mon, 03 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297582