https://www.taxtmi.com/caselaws?id=418164 The Tribunal ruled that the Corporate Insolvency Resolution Process (CIRP) of Nesa India Producer Limited could not be terminated once initiated under the Insolvency and Bankruptcy Code. Due to non-cooperation and non-submission of claims by creditors, including the Operational Creditor, and the non-constitution of the Committee of Creditors (CoC), the Tribunal ordered the liquidation of the Corporate Debtor under Section 33(1)(a) of the IBC. The liquidator was directed to take control of assets, and a fresh moratorium under Section 33(5) commenced. The matter was listed for the appointment of a Liquidator on 31.01.2022. en-us Tue, 25 Jan 2022 00:00:00 +0530 Thu, 10 Feb 2022 08:54:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418164 The Tribunal ruled that the Corporate Insolvency Resolution Process (CIRP) of Nesa India Producer Limited could not be terminated once initiated under the Insolvency and Bankruptcy Code. Due to non-cooperation and non-submission of claims by creditors, including the Operational Creditor, and the non-constitution of the Committee of Creditors (CoC), the Tribunal ordered the liquidation of the Corporate Debtor under Section 33(1)(a) of the IBC. The liquidator was directed to take control of assets, and a fresh moratorium under Section 33(5) commenced. The matter was listed for the appointment of a Liquidator on 31.01.2022. Case-Laws Insolvency and Bankruptcy Tue, 25 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418164