https://www.taxtmi.com/caselaws?id=424906 Where the Committee of Creditors validly resolved to liquidate the corporate debtor and the statutory conditions for liquidation were satisfied, the Adjudicating Authority ordered liquidation and noted the usual consequences, including cessation of the moratorium and vesting of powers in the liquidator. The resolution professional's fee and expense claim was not accepted in full; the amount was restricted to what was considered reasonable for the CIRP period, with only limited additional allowance for the lockdown period and out-of-pocket expenses, and expenses incurred after filing of the liquidation application were disallowed. en-us Tue, 05 Jul 2022 00:00:00 +0530 Tue, 12 Jul 2022 09:13:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424906 Where the Committee of Creditors validly resolved to liquidate the corporate debtor and the statutory conditions for liquidation were satisfied, the Adjudicating Authority ordered liquidation and noted the usual consequences, including cessation of the moratorium and vesting of powers in the liquidator. The resolution professional's fee and expense claim was not accepted in full; the amount was restricted to what was considered reasonable for the CIRP period, with only limited additional allowance for the lockdown period and out-of-pocket expenses, and expenses incurred after filing of the liquidation application were disallowed. Case-Laws Insolvency and Bankruptcy Tue, 05 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424906