https://www.taxtmi.com/caselaws?id=421335 Section 33(2) of the Insolvency and Bankruptcy Code permits liquidation where the Committee of Creditors, by the requisite voting share and before approval of any resolution plan, resolves to liquidate the corporate debtor. The note also explains that a Resolution Professional may be appointed as Liquidator under sections 34(1) and 34(2), subject to valid authorization for assignment and other statutory eligibility requirements. It further records the usual liquidation directions that follow, including public notice, cessation of board powers, cooperation by personnel, institution of proceedings, and filings with the Registrar of Companies. en-us Fri, 08 Apr 2022 00:00:00 +0530 Fri, 22 Apr 2022 08:25:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421335 Section 33(2) of the Insolvency and Bankruptcy Code permits liquidation where the Committee of Creditors, by the requisite voting share and before approval of any resolution plan, resolves to liquidate the corporate debtor. The note also explains that a Resolution Professional may be appointed as Liquidator under sections 34(1) and 34(2), subject to valid authorization for assignment and other statutory eligibility requirements. It further records the usual liquidation directions that follow, including public notice, cessation of board powers, cooperation by personnel, institution of proceedings, and filings with the Registrar of Companies. Case-Laws Insolvency and Bankruptcy Fri, 08 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421335