https://www.taxtmi.com/caselaws?id=425058 The Tribunal ordered the liquidation of a Corporate Debtor, Mayur Manpower Services Private Limited, due to its inactivity for three years. The Resolution Professional was appointed as the Liquidator to manage the liquidation process, including taking over the powers of the Board of Directors. Legal proceedings against the Corporate Debtor were restricted during liquidation, with the Liquidator empowered to act on its behalf. The liquidation order discharged the Corporate Debtor's officers, employees, and workmen, except for ongoing business activities under the Liquidator's management. The Liquidator was directed to file the order for compliance and dissemination, with monitoring scheduled for progress. en-us Wed, 06 Jul 2022 00:00:00 +0530 Fri, 15 Jul 2022 09:13:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425058 The Tribunal ordered the liquidation of a Corporate Debtor, Mayur Manpower Services Private Limited, due to its inactivity for three years. The Resolution Professional was appointed as the Liquidator to manage the liquidation process, including taking over the powers of the Board of Directors. Legal proceedings against the Corporate Debtor were restricted during liquidation, with the Liquidator empowered to act on its behalf. The liquidation order discharged the Corporate Debtor's officers, employees, and workmen, except for ongoing business activities under the Liquidator's management. The Liquidator was directed to file the order for compliance and dissemination, with monitoring scheduled for progress. Case-Laws Insolvency and Bankruptcy Wed, 06 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425058