https://www.taxtmi.com/caselaws?id=414241 The Tribunal approved the liquidation process for the Corporate Guarantors due to their lack of viable assets. The Resolution Professional was appointed as the Liquidator, with powers transferred from the Board of Directors. The Liquidator was tasked with recovering assets, coordinating with authorities, and seeking Tribunal directions. The Liquidator's fees were based on asset value, and legal proceedings against the Corporate Guarantor were restricted. The order served as a discharge notice to employees, and a similar application was allowed for another Corporate Guarantor. The moratorium ceased, and the order was to be uploaded on the Official Website and distributed to relevant parties. 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 The Tribunal approved the liquidation process for the Corporate Guarantors due to their lack of viable assets. The Resolution Professional was appointed as the Liquidator, with powers transferred from the Board of Directors. The Liquidator was tasked with recovering assets, coordinating with authorities, and seeking Tribunal directions. The Liquidator's fees were based on asset value, and legal proceedings against the Corporate Guarantor were restricted. The order served as a discharge notice to employees, and a similar application was allowed for another Corporate Guarantor. The moratorium ceased, and the order was to be uploaded on the Official Website and distributed to relevant parties. Case-Laws Insolvency and Bankruptcy Fri, 08 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414241