https://www.taxtmi.com/caselaws?id=412338 The Tribunal ordered the liquidation of M/s. Ind-Barath Power Gencom Limited based on the CoC's decision to reject resolution plans and lack of commercial viability. Despite objections raised by the Ex-Management regarding the CoC's decision being arbitrary, the Tribunal upheld the CoC's authority in making commercial decisions. The Resolution Professional was appointed as the Liquidator, with directions issued for the liquidation process, including public announcement, cessation of moratorium, compliance with legal provisions, and cooperation from relevant parties. en-us Fri, 13 Aug 2021 00:00:00 +0530 Thu, 16 Sep 2021 09:04:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412338 The Tribunal ordered the liquidation of M/s. Ind-Barath Power Gencom Limited based on the CoC's decision to reject resolution plans and lack of commercial viability. Despite objections raised by the Ex-Management regarding the CoC's decision being arbitrary, the Tribunal upheld the CoC's authority in making commercial decisions. The Resolution Professional was appointed as the Liquidator, with directions issued for the liquidation process, including public announcement, cessation of moratorium, compliance with legal provisions, and cooperation from relevant parties. Case-Laws Insolvency and Bankruptcy Fri, 13 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412338