https://www.taxtmi.com/caselaws?id=300454 The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor following a Section 9 Petition by a Financial Creditor, resulting in the appointment of an Interim Resolution Professional (IRP). Despite only one claim from a financial creditor being received, the CoC decided on liquidation. The Company's financial position revealed asset deficiencies, leading to the Tribunal confirming the RP's appointment. With no resolution plan in sight, liquidation was sought under Section 33 of the Code, approved by the CoC and Tribunal. The Tribunal then issued a liquidation order appointing the RP as the Liquidator and outlining the liquidation process. en-us Tue, 11 Aug 2020 00:00:00 +0530 Thu, 03 Feb 2022 07:31:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300454 The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor following a Section 9 Petition by a Financial Creditor, resulting in the appointment of an Interim Resolution Professional (IRP). Despite only one claim from a financial creditor being received, the CoC decided on liquidation. The Company's financial position revealed asset deficiencies, leading to the Tribunal confirming the RP's appointment. With no resolution plan in sight, liquidation was sought under Section 33 of the Code, approved by the CoC and Tribunal. The Tribunal then issued a liquidation order appointing the RP as the Liquidator and outlining the liquidation process. Case-Laws Insolvency and Bankruptcy Tue, 11 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300454