https://www.taxtmi.com/caselaws?id=300852 The court approved the liquidation of the Corporate Debtor due to the non-receipt of any resolution plan despite extensions granted during the Corporate Insolvency Resolution Process. The Resolution Professional was appointed as the Liquidator, with detailed directions provided for the liquidation process, including stakeholder claims submission and compliance with regulations. Operational Creditors were affirmed to retain rights to enforce personal guarantees. The judgment elucidated legal provisions governing liquidation under Sections 33 and 34 of the Insolvency and Bankruptcy Code, 2016, ensuring adherence to prescribed procedures. en-us Fri, 31 May 2019 00:00:00 +0530 Mon, 28 Feb 2022 20:23:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300852 The court approved the liquidation of the Corporate Debtor due to the non-receipt of any resolution plan despite extensions granted during the Corporate Insolvency Resolution Process. The Resolution Professional was appointed as the Liquidator, with detailed directions provided for the liquidation process, including stakeholder claims submission and compliance with regulations. Operational Creditors were affirmed to retain rights to enforce personal guarantees. The judgment elucidated legal provisions governing liquidation under Sections 33 and 34 of the Insolvency and Bankruptcy Code, 2016, ensuring adherence to prescribed procedures. Case-Laws Insolvency and Bankruptcy Fri, 31 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300852