https://www.taxtmi.com/caselaws?id=424799 The Tribunal ordered the immediate liquidation of the Corporate Debtor, Modi Telecommunications Limited, under Section 33(1) of the IBC, 2016. Despite no claims being received during the CIRP proceedings, the Tribunal directed the Liquidator to engage with the Department of Telecommunications, the largest creditor. Mr. Atul Mittal, the IRP, was appointed as the Liquidator, with instructions to take control of assets, comply with regulations, and manage the liquidation process. The Tribunal emphasized adherence to IBC provisions, cessation of the Board of Directors' powers, and payment of the Liquidator's fee. en-us Mon, 24 Jan 2022 00:00:00 +0530 Sat, 09 Jul 2022 08:01:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424799 The Tribunal ordered the immediate liquidation of the Corporate Debtor, Modi Telecommunications Limited, under Section 33(1) of the IBC, 2016. Despite no claims being received during the CIRP proceedings, the Tribunal directed the Liquidator to engage with the Department of Telecommunications, the largest creditor. Mr. Atul Mittal, the IRP, was appointed as the Liquidator, with instructions to take control of assets, comply with regulations, and manage the liquidation process. The Tribunal emphasized adherence to IBC provisions, cessation of the Board of Directors' powers, and payment of the Liquidator's fee. Case-Laws Insolvency and Bankruptcy Mon, 24 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424799