https://www.taxtmi.com/caselaws?id=423206 Where no resolution plan was received within the CIRP period and the Committee of Creditors approved liquidation by the requisite voting share, liquidation could be ordered under section 33(2) of the Insolvency and Bankruptcy Code, 2016. The Resolution Professional could be appointed as Liquidator under section 34(1), but only subject to statutory eligibility, including possession of a valid Authorisation for Assignment under regulation 7A of the Insolvency Professionals Regulations, 2019. Once liquidation commenced, the corporate debtor's management and board powers stood displaced, with consequential statutory duties, cooperation requirements, and filing obligations following under the Code. en-us Thu, 12 May 2022 00:00:00 +0530 Wed, 01 Jun 2022 16:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423206 Where no resolution plan was received within the CIRP period and the Committee of Creditors approved liquidation by the requisite voting share, liquidation could be ordered under section 33(2) of the Insolvency and Bankruptcy Code, 2016. The Resolution Professional could be appointed as Liquidator under section 34(1), but only subject to statutory eligibility, including possession of a valid Authorisation for Assignment under regulation 7A of the Insolvency Professionals Regulations, 2019. Once liquidation commenced, the corporate debtor's management and board powers stood displaced, with consequential statutory duties, cooperation requirements, and filing obligations following under the Code. Case-Laws Insolvency and Bankruptcy Thu, 12 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423206