https://www.taxtmi.com/caselaws?id=414469 Where no resolution plan is approved during the corporate insolvency resolution process and the committee of creditors recommends liquidation, section 33(1) of the Insolvency and Bankruptcy Code permits liquidation once the adjudicating authority is satisfied that the statutory procedure has been complied with. The absence of a viable resolution plan and compliance with the liquidation regulations supported the order for liquidation. The resolution professional's consent to act as liquidator also satisfied section 34(1), so the resolution professional was appointed as liquidator. en-us Mon, 04 Oct 2021 00:00:00 +0530 Tue, 09 Nov 2021 08:31:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414469 Where no resolution plan is approved during the corporate insolvency resolution process and the committee of creditors recommends liquidation, section 33(1) of the Insolvency and Bankruptcy Code permits liquidation once the adjudicating authority is satisfied that the statutory procedure has been complied with. The absence of a viable resolution plan and compliance with the liquidation regulations supported the order for liquidation. The resolution professional's consent to act as liquidator also satisfied section 34(1), so the resolution professional was appointed as liquidator. Case-Laws Insolvency and Bankruptcy Mon, 04 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414469