https://www.taxtmi.com/caselaws?id=423049 Where the corporate insolvency resolution process had expired and the committee of creditors had repeatedly failed to approve any resolution plan, liquidation followed under the Insolvency and Bankruptcy Code, 2016. The tribunal treated the absence of an approved plan and the expiry of the CIRP period as satisfying the statutory basis for liquidation, and accepted the resolution professional's request to act as liquidator. As the resolution professional consented and was otherwise eligible, appointment as liquidator was warranted. Liquidation of the corporate debtor was ordered and the resolution professional was appointed as liquidator. en-us Wed, 18 May 2022 00:00:00 +0530 Sat, 28 May 2022 09:36:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423049 Where the corporate insolvency resolution process had expired and the committee of creditors had repeatedly failed to approve any resolution plan, liquidation followed under the Insolvency and Bankruptcy Code, 2016. The tribunal treated the absence of an approved plan and the expiry of the CIRP period as satisfying the statutory basis for liquidation, and accepted the resolution professional's request to act as liquidator. As the resolution professional consented and was otherwise eligible, appointment as liquidator was warranted. Liquidation of the corporate debtor was ordered and the resolution professional was appointed as liquidator. Case-Laws Insolvency and Bankruptcy Wed, 18 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423049