https://www.taxtmi.com/caselaws?id=424905 Liquidation was justified after the sole Committee of Creditors rejected all resolution plans and resolved to liquidate the corporate debtor. The statutory preconditions under the Insolvency and Bankruptcy Code, 2016 were treated as satisfied because the resolution process had been adequately explored, the resolution professional consented to act as liquidator, and the Committee of Creditors addressed liquidation costs and a possible going-concern sale. The moratorium therefore ceased, and the liquidator was directed to conduct liquidation under the Code and the Liquidation Process Regulations, while first exploring sale of the corporate debtor as a going concern. 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 Liquidation was justified after the sole Committee of Creditors rejected all resolution plans and resolved to liquidate the corporate debtor. The statutory preconditions under the Insolvency and Bankruptcy Code, 2016 were treated as satisfied because the resolution process had been adequately explored, the resolution professional consented to act as liquidator, and the Committee of Creditors addressed liquidation costs and a possible going-concern sale. The moratorium therefore ceased, and the liquidator was directed to conduct liquidation under the Code and the Liquidation Process Regulations, while first exploring sale of the corporate debtor as a going concern. Case-Laws Insolvency and Bankruptcy Mon, 04 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424905