https://www.taxtmi.com/caselaws?id=417814 The Tribunal upheld the liquidation order dated 05.05.2021, dismissing the appeal and affirming the liquidation of the Corporate Debtor (CD). The Appellant's challenge to the liquidation order, disqualification as a director, and claims regarding CoC participation were rejected. The Tribunal emphasized the commercial wisdom of the CoC in deciding to liquidate the CD, citing precedents. The Appellant's lack of standing to challenge CoC decisions due to not being part of the suspended Board of Directors was a key factor in the Tribunal's decision. en-us Mon, 31 Jan 2022 00:00:00 +0530 Wed, 02 Feb 2022 08:45:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417814 The Tribunal upheld the liquidation order dated 05.05.2021, dismissing the appeal and affirming the liquidation of the Corporate Debtor (CD). The Appellant's challenge to the liquidation order, disqualification as a director, and claims regarding CoC participation were rejected. The Tribunal emphasized the commercial wisdom of the CoC in deciding to liquidate the CD, citing precedents. The Appellant's lack of standing to challenge CoC decisions due to not being part of the suspended Board of Directors was a key factor in the Tribunal's decision. Case-Laws Insolvency and Bankruptcy Mon, 31 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417814