https://www.taxtmi.com/caselaws?id=297900 The Tribunal approved the liquidation application filed by the Resolution Professional due to the absence of an approved resolution plan and the CoC's decision to initiate liquidation proceedings under Section 33(1) of the Insolvency and Bankruptcy Code, 2016. The CIRP period against the Corporate Debtor was extended by 90 days. Despite discussions for withdrawal under Section 12A due to a promised upfront payment not being made, the RP filed the liquidation application. The Tribunal appointed a Liquidator to oversee the liquidation proceedings and directed the RP to provide relevant documents for investigating fraudulent transactions involving ex-promoters and directors. en-us Fri, 11 Dec 2020 00:00:00 +0530 Wed, 29 Sep 2021 11:02:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297900 The Tribunal approved the liquidation application filed by the Resolution Professional due to the absence of an approved resolution plan and the CoC's decision to initiate liquidation proceedings under Section 33(1) of the Insolvency and Bankruptcy Code, 2016. The CIRP period against the Corporate Debtor was extended by 90 days. Despite discussions for withdrawal under Section 12A due to a promised upfront payment not being made, the RP filed the liquidation application. The Tribunal appointed a Liquidator to oversee the liquidation proceedings and directed the RP to provide relevant documents for investigating fraudulent transactions involving ex-promoters and directors. Case-Laws Companies Law Fri, 11 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297900