https://www.taxtmi.com/caselaws?id=421371 Where no approved resolution plan is received within the CIRP period and the Committee of Creditors unanimously resolves to liquidate, the Adjudicating Authority may order liquidation under section 33(1)(b) of the Insolvency and Bankruptcy Code, 2016. The Tribunal noted that the statutory conditions for liquidation were satisfied because no resolution plan had been received under section 30(6). It therefore ordered liquidation of the corporate debtor, appointed a liquidator, directed cessation of moratorium, and required the liquidation to proceed under Chapter III of Part II of the Code and the Liquidation Process Regulations, including an attempt to sell the corporate debtor or its business as a going concern. en-us Fri, 25 Mar 2022 00:00:00 +0530 Sat, 23 Apr 2022 08:33:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421371 Where no approved resolution plan is received within the CIRP period and the Committee of Creditors unanimously resolves to liquidate, the Adjudicating Authority may order liquidation under section 33(1)(b) of the Insolvency and Bankruptcy Code, 2016. The Tribunal noted that the statutory conditions for liquidation were satisfied because no resolution plan had been received under section 30(6). It therefore ordered liquidation of the corporate debtor, appointed a liquidator, directed cessation of moratorium, and required the liquidation to proceed under Chapter III of Part II of the Code and the Liquidation Process Regulations, including an attempt to sell the corporate debtor or its business as a going concern. Case-Laws Insolvency and Bankruptcy Fri, 25 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421371