https://www.taxtmi.com/caselaws?id=421946 The Tribunal granted the Applicant's prayer for dissolution of the Corporate Debtor under Section 54 of the Insolvency and Bankruptcy Code, 2016. With no tangible assets for recovery, the Stakeholders Consultation Committee agreed that the loans and advances were bad debts, authorizing efforts for recovery. As recovery prospects remained uncertain, the Liquidator was empowered to seek dissolution. The Tribunal, noting the completion of liquidation and absence of assets, declared the Corporate Debtor dissolved, directing the sole stakeholder to settle outstanding amounts. The case file was closed, and relevant authorities were updated, concluding the proceedings efficiently. en-us Mon, 25 Apr 2022 00:00:00 +0530 Thu, 05 May 2022 08:34:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421946 The Tribunal granted the Applicant's prayer for dissolution of the Corporate Debtor under Section 54 of the Insolvency and Bankruptcy Code, 2016. With no tangible assets for recovery, the Stakeholders Consultation Committee agreed that the loans and advances were bad debts, authorizing efforts for recovery. As recovery prospects remained uncertain, the Liquidator was empowered to seek dissolution. The Tribunal, noting the completion of liquidation and absence of assets, declared the Corporate Debtor dissolved, directing the sole stakeholder to settle outstanding amounts. The case file was closed, and relevant authorities were updated, concluding the proceedings efficiently. Case-Laws Insolvency and Bankruptcy Mon, 25 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421946