https://www.taxtmi.com/caselaws?id=301434 The Tribunal upheld the Committee of Creditors' decision to initiate liquidation instead of reconsidering the resolution applicant's proposal, as the 270-day period had expired. With 88.92% of the COC's voting power approving liquidation under Section 33(2) of the Insolvency and Bankruptcy Code, the Tribunal dismissed the applicant's objection. The appointment of Mr. Rajesh JhunJhunwala as the Insolvency Liquidator was confirmed, with directions to file interim reports for proper oversight. The judgment emphasizes adherence to legal requirements and compliance with the IBC provisions throughout the liquidation process. en-us Fri, 15 Feb 2019 00:00:00 +0530 Mon, 04 Apr 2022 20:58:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301434 The Tribunal upheld the Committee of Creditors' decision to initiate liquidation instead of reconsidering the resolution applicant's proposal, as the 270-day period had expired. With 88.92% of the COC's voting power approving liquidation under Section 33(2) of the Insolvency and Bankruptcy Code, the Tribunal dismissed the applicant's objection. The appointment of Mr. Rajesh JhunJhunwala as the Insolvency Liquidator was confirmed, with directions to file interim reports for proper oversight. The judgment emphasizes adherence to legal requirements and compliance with the IBC provisions throughout the liquidation process. Case-Laws Companies Law Fri, 15 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301434