https://www.taxtmi.com/caselaws?id=415171 The Tribunal upheld the Committee of Creditors' decision to reject the Expression of Interest (EOI) and proceed with liquidation, finding that the rejection was within their rights and based on eligibility criteria. The Tribunal also ruled that the Resolution Professional acted within their duties in not placing the Resolution Plan before the CoC. The CoC's authority to resolve to liquidate the Corporate Debtor before the statutory period expired was confirmed, leading to the dismissal of the appeals as the decisions were deemed justified within the statutory framework and commercial wisdom. en-us Thu, 25 Nov 2021 00:00:00 +0530 Mon, 29 Nov 2021 08:58:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415171 The Tribunal upheld the Committee of Creditors' decision to reject the Expression of Interest (EOI) and proceed with liquidation, finding that the rejection was within their rights and based on eligibility criteria. The Tribunal also ruled that the Resolution Professional acted within their duties in not placing the Resolution Plan before the CoC. The CoC's authority to resolve to liquidate the Corporate Debtor before the statutory period expired was confirmed, leading to the dismissal of the appeals as the decisions were deemed justified within the statutory framework and commercial wisdom. Case-Laws Insolvency and Bankruptcy Thu, 25 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415171