https://www.taxtmi.com/caselaws?id=427496 The National Company Law Tribunal (NCLT) ordered the initiation of liquidation proceedings against a Corporate Debtor, appointing a Liquidator and discharging the Resolution Professional. The NCLT directed the Board of Directors to cooperate with the Liquidator and issued restrictions on legal proceedings against the Corporate Debtor. The appeal by the ex-directors challenging the liquidation order was dismissed due to their non-cooperation and the statutory provisions of the Insolvency & Bankruptcy Code, resulting in the NCLT's decision being upheld. en-us Fri, 09 Sep 2022 00:00:00 +0530 Sat, 10 Sep 2022 15:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427496 The National Company Law Tribunal (NCLT) ordered the initiation of liquidation proceedings against a Corporate Debtor, appointing a Liquidator and discharging the Resolution Professional. The NCLT directed the Board of Directors to cooperate with the Liquidator and issued restrictions on legal proceedings against the Corporate Debtor. The appeal by the ex-directors challenging the liquidation order was dismissed due to their non-cooperation and the statutory provisions of the Insolvency & Bankruptcy Code, resulting in the NCLT's decision being upheld. Case-Laws Insolvency and Bankruptcy Fri, 09 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427496