https://www.taxtmi.com/caselaws?id=422551 The Tribunal ordered the liquidation of Corporate Debtor SKP Steel Industries Private Limited due to the expiration of the CIRP period without an approved resolution plan. The Resolution Professional was appointed as the Liquidator, with powers transferred from the Board of Directors to oversee the liquidation process. The CoC approved the liquidation after finding resolution plans unsatisfactory, recommending the sale of the Corporate Debtor as a going concern. Legal proceedings against the Corporate Debtor were restricted once the liquidation commenced, with the Liquidator instructed to file the order with the Registrar of Companies and ensure compliance. en-us Tue, 10 May 2022 00:00:00 +0530 Wed, 18 May 2022 08:56:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422551 The Tribunal ordered the liquidation of Corporate Debtor SKP Steel Industries Private Limited due to the expiration of the CIRP period without an approved resolution plan. The Resolution Professional was appointed as the Liquidator, with powers transferred from the Board of Directors to oversee the liquidation process. The CoC approved the liquidation after finding resolution plans unsatisfactory, recommending the sale of the Corporate Debtor as a going concern. Legal proceedings against the Corporate Debtor were restricted once the liquidation commenced, with the Liquidator instructed to file the order with the Registrar of Companies and ensure compliance. Case-Laws Insolvency and Bankruptcy Tue, 10 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422551