https://www.taxtmi.com/caselaws?id=300655 The Tribunal upheld the order for liquidation under Section 33(2) of the Insolvency & Bankruptcy Code, 2016, dismissing the appellant's challenge. Despite the appellant's capability to submit a Resolution Plan, their ineligibility under Section 29A led to the dismissal of their claim. The Tribunal found the Committee of Creditors had provided sufficient opportunity for resolution plans but proceeded with liquidation due to the absence of viable alternatives. Emphasizing procedural adherence, the Tribunal affirmed the decision, highlighting the lack of concrete revival plans from eligible applicants. The appeal was ultimately dismissed without costs. en-us Tue, 24 Jul 2018 00:00:00 +0530 Fri, 18 Feb 2022 07:31:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300655 The Tribunal upheld the order for liquidation under Section 33(2) of the Insolvency & Bankruptcy Code, 2016, dismissing the appellant's challenge. Despite the appellant's capability to submit a Resolution Plan, their ineligibility under Section 29A led to the dismissal of their claim. The Tribunal found the Committee of Creditors had provided sufficient opportunity for resolution plans but proceeded with liquidation due to the absence of viable alternatives. Emphasizing procedural adherence, the Tribunal affirmed the decision, highlighting the lack of concrete revival plans from eligible applicants. The appeal was ultimately dismissed without costs. Case-Laws Insolvency and Bankruptcy Tue, 24 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300655