https://www.taxtmi.com/caselaws?id=424343 The Tribunal approved the liquidation of the Corporate Debtor, M/s. Sesha Saila Power and Engineering Private Limited, under Section 33(2) of the I&B Code, 2016, due to the absence of a Resolution Plan. Mr. Anil Seetaram Vaidya was appointed as the Liquidator, with powers vested to manage the affairs of the company. The moratorium under Section 14 ceased upon the liquidation order, allowing only legal proceedings by the Liquidator with prior approval. The Liquidator was tasked with selling the company within 90 days or its assets if unsuccessful, while adhering to the fee structure and cooperation of the Corporate Debtor's personnel. en-us Thu, 09 Jun 2022 00:00:00 +0530 Tue, 28 Jun 2022 07:43:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424343 The Tribunal approved the liquidation of the Corporate Debtor, M/s. Sesha Saila Power and Engineering Private Limited, under Section 33(2) of the I&B Code, 2016, due to the absence of a Resolution Plan. Mr. Anil Seetaram Vaidya was appointed as the Liquidator, with powers vested to manage the affairs of the company. The moratorium under Section 14 ceased upon the liquidation order, allowing only legal proceedings by the Liquidator with prior approval. The Liquidator was tasked with selling the company within 90 days or its assets if unsuccessful, while adhering to the fee structure and cooperation of the Corporate Debtor's personnel. Case-Laws Insolvency and Bankruptcy Thu, 09 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424343