https://www.taxtmi.com/caselaws?id=303009 Where the corporate insolvency resolution process expired without an approved compliant resolution plan, liquidation followed under the Insolvency and Bankruptcy Code. A received plan was found non-compliant and was not placed for vote, so the statutory trigger for liquidation applied. The resolution professional's consent to act as liquidator was accepted, and the usual liquidation directions were issued, including cessation of the board and key managerial personnel's powers, a duty to cooperate with the liquidator, publication of the liquidation notice, and filing of the order with the Registrar of Companies. en-us Fri, 08 Oct 2021 00:00:00 +0530 Tue, 28 Jun 2022 21:24:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303009 Where the corporate insolvency resolution process expired without an approved compliant resolution plan, liquidation followed under the Insolvency and Bankruptcy Code. A received plan was found non-compliant and was not placed for vote, so the statutory trigger for liquidation applied. The resolution professional's consent to act as liquidator was accepted, and the usual liquidation directions were issued, including cessation of the board and key managerial personnel's powers, a duty to cooperate with the liquidator, publication of the liquidation notice, and filing of the order with the Registrar of Companies. Case-Laws Insolvency and Bankruptcy Fri, 08 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303009