https://www.taxtmi.com/caselaws?id=415009 The Committee of Creditors, acting on commercial wisdom and with unanimous voting support, resolved to proceed with liquidation after repeated extensions failed to produce any viable resolution plan during the CIRP. The Tribunal recorded expiry of the CIRP period, the absence of approved plans from prospective applicants, and compliance with the Insolvency and Bankruptcy Code requirements, including the proposed Resolution Professional's consent and disclosure. It therefore directed liquidation of the corporate debtor and appointed the Resolution Professional as liquidator under the Code. en-us Thu, 18 Nov 2021 00:00:00 +0530 Wed, 24 Nov 2021 06:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415009 The Committee of Creditors, acting on commercial wisdom and with unanimous voting support, resolved to proceed with liquidation after repeated extensions failed to produce any viable resolution plan during the CIRP. The Tribunal recorded expiry of the CIRP period, the absence of approved plans from prospective applicants, and compliance with the Insolvency and Bankruptcy Code requirements, including the proposed Resolution Professional's consent and disclosure. It therefore directed liquidation of the corporate debtor and appointed the Resolution Professional as liquidator under the Code. Case-Laws Insolvency and Bankruptcy Thu, 18 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415009