https://www.taxtmi.com/caselaws?id=297818 The Tribunal ordered the liquidation of the Corporate Debtor under Section 33 of the IBC, 2016, as no prospective Resolution Applicant emerged despite efforts. The Committee of Creditors decided on liquidation due to the absence of viable business and assets. The Resolution Professional was appointed as the Liquidator, with specific directions to follow IBC guidelines. A new Moratorium under Section 33(5) commenced, and the Liquidator was tasked with investigating financial affairs and involving relevant parties in the process. The application for liquidation was disposed of, ensuring a structured liquidation process. en-us Fri, 29 May 2020 00:00:00 +0530 Thu, 23 Sep 2021 07:04:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297818 The Tribunal ordered the liquidation of the Corporate Debtor under Section 33 of the IBC, 2016, as no prospective Resolution Applicant emerged despite efforts. The Committee of Creditors decided on liquidation due to the absence of viable business and assets. The Resolution Professional was appointed as the Liquidator, with specific directions to follow IBC guidelines. A new Moratorium under Section 33(5) commenced, and the Liquidator was tasked with investigating financial affairs and involving relevant parties in the process. The application for liquidation was disposed of, ensuring a structured liquidation process. Case-Laws Insolvency and Bankruptcy Fri, 29 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297818