https://www.taxtmi.com/caselaws?id=414241 Liquidation may be initiated where the committee of creditors validly resolves to liquidate a corporate guarantor and the entity has insignificant financial and tangible assets with no realistic prospect of resolution. The insolvency framework permits appointment of the Resolution Professional as liquidator in accordance with the Code and applicable regulations. The material indicates that creditor approval and the absence of viable assets or a feasible resolution plan support liquidation and the Resolution Professional's appointment as liquidator. en-us Fri, 08 Oct 2021 00:00:00 +0530 Mon, 01 Nov 2021 07:09:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414241 Liquidation may be initiated where the committee of creditors validly resolves to liquidate a corporate guarantor and the entity has insignificant financial and tangible assets with no realistic prospect of resolution. The insolvency framework permits appointment of the Resolution Professional as liquidator in accordance with the Code and applicable regulations. The material indicates that creditor approval and the absence of viable assets or a feasible resolution plan support liquidation and the Resolution Professional's appointment as liquidator. Case-Laws Insolvency and Bankruptcy Fri, 08 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414241