https://www.taxtmi.com/caselaws?id=415125 When an approved resolution plan is not implemented and the appellate forum directs liquidation, the adjudicating authority may order liquidation under the Insolvency and Bankruptcy Code and appoint the resolution professional as liquidator. The text records that the Committee of Creditors fixed liquidation costs, declined a going-concern sale, and named the resolution professional for that role. Consequential directions followed for public notice, intimation to the ROC, vesting of management powers in the liquidator, and a bar on proceedings against the corporate debtor during liquidation. en-us Tue, 16 Nov 2021 00:00:00 +0530 Sat, 27 Nov 2021 08:46:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415125 When an approved resolution plan is not implemented and the appellate forum directs liquidation, the adjudicating authority may order liquidation under the Insolvency and Bankruptcy Code and appoint the resolution professional as liquidator. The text records that the Committee of Creditors fixed liquidation costs, declined a going-concern sale, and named the resolution professional for that role. Consequential directions followed for public notice, intimation to the ROC, vesting of management powers in the liquidator, and a bar on proceedings against the corporate debtor during liquidation. Case-Laws Insolvency and Bankruptcy Tue, 16 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415125