https://www.taxtmi.com/caselaws?id=420765 The Tribunal approved the liquidation of the Corporate Debtor, M/s. SRI PARAMESWARA POULTRY FARM PRIVATE LIMITED, due to the failure to secure a resolution plan within the prescribed timeline under the Insolvency & Bankruptcy Code, 2016. Despite a 20-day delay in filing the application, condonation was granted, and a new Liquidator, Mr. Kasa Venkata Ramaniah, was appointed after the rejection of the Resolution Professional's appointment. The order highlighted the importance of timely resolution and asset maximization under the IBC, outlining post-liquidation procedural steps for the efficient management of the Corporate Debtor's affairs. en-us Thu, 24 Mar 2022 00:00:00 +0530 Sat, 09 Apr 2022 07:54:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420765 The Tribunal approved the liquidation of the Corporate Debtor, M/s. SRI PARAMESWARA POULTRY FARM PRIVATE LIMITED, due to the failure to secure a resolution plan within the prescribed timeline under the Insolvency & Bankruptcy Code, 2016. Despite a 20-day delay in filing the application, condonation was granted, and a new Liquidator, Mr. Kasa Venkata Ramaniah, was appointed after the rejection of the Resolution Professional's appointment. The order highlighted the importance of timely resolution and asset maximization under the IBC, outlining post-liquidation procedural steps for the efficient management of the Corporate Debtor's affairs. Case-Laws Insolvency and Bankruptcy Thu, 24 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420765