https://www.taxtmi.com/caselaws?id=304239 Where no resolution plan is received within the CIRP period and the Committee of Creditors resolves to liquidate, Section 33(2) of the Insolvency and Bankruptcy Code, 2016 requires the adjudicating authority to order liquidation. The liquidation then proceeds under Chapter III of Part II of the Code, with the resolution professional appointed as liquidator and the statutory consequences of liquidation taking effect, including cessation of moratorium, restrictions on proceedings, and transfer of powers to the liquidator. en-us Tue, 03 Sep 2019 00:00:00 +0530 Tue, 18 Apr 2023 12:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304239 Where no resolution plan is received within the CIRP period and the Committee of Creditors resolves to liquidate, Section 33(2) of the Insolvency and Bankruptcy Code, 2016 requires the adjudicating authority to order liquidation. The liquidation then proceeds under Chapter III of Part II of the Code, with the resolution professional appointed as liquidator and the statutory consequences of liquidation taking effect, including cessation of moratorium, restrictions on proceedings, and transfer of powers to the liquidator. Case-Laws Insolvency and Bankruptcy Tue, 03 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304239