https://www.taxtmi.com/caselaws?id=424905 The Adjudicating Authority granted a liquidation order for the Corporate Debtor as the Committee of Creditors (CoC) rejected all resolution plans with 100% votes. The Resolution Professional was appointed as the Liquidator to manage the process in accordance with the Insolvency and Bankruptcy Code, 2016. The CoC agreed to contribute to the estimated liquidation costs, directing the Liquidator to explore selling the debtor as a going concern. Powers of the Board of Directors and key personnel ceased, transferring to the Liquidator. Legal proceedings against the debtor required prior approval, and a notice of discharge was issued to relevant parties. en-us Mon, 04 Jul 2022 00:00:00 +0530 Tue, 12 Jul 2022 09:13:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424905 The Adjudicating Authority granted a liquidation order for the Corporate Debtor as the Committee of Creditors (CoC) rejected all resolution plans with 100% votes. The Resolution Professional was appointed as the Liquidator to manage the process in accordance with the Insolvency and Bankruptcy Code, 2016. The CoC agreed to contribute to the estimated liquidation costs, directing the Liquidator to explore selling the debtor as a going concern. Powers of the Board of Directors and key personnel ceased, transferring to the Liquidator. Legal proceedings against the debtor required prior approval, and a notice of discharge was issued to relevant parties. Case-Laws Insolvency and Bankruptcy Mon, 04 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424905