https://www.taxtmi.com/caselaws?id=300796 Where the CIRP period expires without approval of any resolution plan, liquidation follows as the statutory consequence under the Code, and further continuation of the process is unnecessary where it would only delay resolution or liquidation. On that basis, the Tribunal directed commencement of liquidation of the corporate debtor and held that an eligible insolvency professional from the IBBI panel, having given written consent, could be appointed as Liquidator. The resolution professional's request for liquidation was accepted, and consequential directions were issued for public announcement and conduct of the liquidation process. en-us Fri, 13 Mar 2020 00:00:00 +0530 Thu, 24 Feb 2022 21:26:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300796 Where the CIRP period expires without approval of any resolution plan, liquidation follows as the statutory consequence under the Code, and further continuation of the process is unnecessary where it would only delay resolution or liquidation. On that basis, the Tribunal directed commencement of liquidation of the corporate debtor and held that an eligible insolvency professional from the IBBI panel, having given written consent, could be appointed as Liquidator. The resolution professional's request for liquidation was accepted, and consequential directions were issued for public announcement and conduct of the liquidation process. Case-Laws Insolvency and Bankruptcy Fri, 13 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300796