https://www.taxtmi.com/caselaws?id=298337 Where the CIRP had run its course, no resolution plan was approved within time, and the sole resolution applicant withdrew, the statutory conditions for liquidation under section 33(1)(a) of the Insolvency and Bankruptcy Code were treated as satisfied. The resolution professional was appointed as liquidator under section 34(1), and the liquidation process was to proceed under the Code and regulations. A person who had not participated within the CIRP timeline was not entitled to compel the Committee of Creditors to consider a belated expression of interest or resolution proposal after expiry of the process. The document thus records liquidation of the corporate debtor and rejection of the late applicant's request. en-us Mon, 01 Mar 2021 00:00:00 +0530 Wed, 27 Oct 2021 09:18:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298337 Where the CIRP had run its course, no resolution plan was approved within time, and the sole resolution applicant withdrew, the statutory conditions for liquidation under section 33(1)(a) of the Insolvency and Bankruptcy Code were treated as satisfied. The resolution professional was appointed as liquidator under section 34(1), and the liquidation process was to proceed under the Code and regulations. A person who had not participated within the CIRP timeline was not entitled to compel the Committee of Creditors to consider a belated expression of interest or resolution proposal after expiry of the process. The document thus records liquidation of the corporate debtor and rejection of the late applicant's request. Case-Laws Insolvency and Bankruptcy Mon, 01 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298337