https://www.taxtmi.com/caselaws?id=426078 The Tribunal ordered the liquidation of the Corporate Debtor, SSB Retail India Private Limited, due to a deadlock in voting share, with only 55.87% in favor of liquidation and the absent member's share not counted. The Tribunal emphasized the need for amending Section 33(2) of the IBC to address such deadlock situations. Mr. Pavan Kankani was appointed as the Liquidator, with specific directions for the liquidation process, including issuing a public announcement, ceasing the moratorium, and cooperation from all personnel. The Tribunal highlighted the importance of ensuring the objectives of the IBC are met. en-us Tue, 19 Jul 2022 00:00:00 +0530 Mon, 08 Aug 2022 09:08:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426078 The Tribunal ordered the liquidation of the Corporate Debtor, SSB Retail India Private Limited, due to a deadlock in voting share, with only 55.87% in favor of liquidation and the absent member's share not counted. The Tribunal emphasized the need for amending Section 33(2) of the IBC to address such deadlock situations. Mr. Pavan Kankani was appointed as the Liquidator, with specific directions for the liquidation process, including issuing a public announcement, ceasing the moratorium, and cooperation from all personnel. The Tribunal highlighted the importance of ensuring the objectives of the IBC are met. Case-Laws Insolvency and Bankruptcy Tue, 19 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426078