https://www.taxtmi.com/caselaws?id=300282 The Adjudicating Authority disapproved of the Resolution Professional (RP) and Committee of Creditors (CoC) for not adhering to the specified timeline and unilaterally extending the decision deadline in violation of the order. Despite criticizing their actions, immediate liquidation was not ordered due to the completed voting process. The Authority emphasized the importance of timely resolution under the Insolvency and Bankruptcy Code (IBC) and directed the expedited conclusion of the process, stressing the need for strict adherence to resolution timelines and efficient proceedings. Injunction relief was not granted, but the judgment concluded without liquidation orders at that time. en-us Fri, 30 Apr 2021 00:00:00 +0530 Thu, 20 Jan 2022 20:31:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300282 The Adjudicating Authority disapproved of the Resolution Professional (RP) and Committee of Creditors (CoC) for not adhering to the specified timeline and unilaterally extending the decision deadline in violation of the order. Despite criticizing their actions, immediate liquidation was not ordered due to the completed voting process. The Authority emphasized the importance of timely resolution under the Insolvency and Bankruptcy Code (IBC) and directed the expedited conclusion of the process, stressing the need for strict adherence to resolution timelines and efficient proceedings. Injunction relief was not granted, but the judgment concluded without liquidation orders at that time. Case-Laws Insolvency and Bankruptcy Fri, 30 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300282