https://www.taxtmi.com/caselaws?id=297810 The appeals were disposed of with directions emphasizing adherence to legal provisions and the Tribunal's directives for the resolution or liquidation of the Corporate Debtor, 'M/s. Ashok Magnetics Limited'. The Appellate Tribunal did not delve into the issue of promoters' eligibility under Section 29A of the I&B Code as the Committee of Creditors had already rejected the Resolution Plan. The Tribunal emphasized the importance of maintaining the Corporate Debtor as a going concern during liquidation and directed the Liquidator to comply with the law and consider any Compromise or Arrangements under Section 230 of the Companies Act, 2013. en-us Fri, 22 Feb 2019 00:00:00 +0530 Thu, 23 Sep 2021 07:04:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297810 The appeals were disposed of with directions emphasizing adherence to legal provisions and the Tribunal's directives for the resolution or liquidation of the Corporate Debtor, 'M/s. Ashok Magnetics Limited'. The Appellate Tribunal did not delve into the issue of promoters' eligibility under Section 29A of the I&B Code as the Committee of Creditors had already rejected the Resolution Plan. The Tribunal emphasized the importance of maintaining the Corporate Debtor as a going concern during liquidation and directed the Liquidator to comply with the law and consider any Compromise or Arrangements under Section 230 of the Companies Act, 2013. Case-Laws Companies Law Fri, 22 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297810