https://www.taxtmi.com/caselaws?id=427802 The Tribunal ordered the liquidation of the Corporate Debtor, Mohan Motor Dealers Private Limited, following the Committee of Creditors' decision based on irregular transactions and lack of assets. A specific Insolvency Professional was appointed as the Liquidator to oversee the process, leading to the cessation of powers of the Board of Directors and key managerial persons. Legal proceedings against the company were restricted, with the Liquidator authorized to initiate actions. The order resulted in the discharge of officers and employees, except those involved in ongoing business operations. The Liquidator was directed to ensure compliance, report progress, and inform relevant parties, indicating ongoing oversight by the Tribunal. en-us Wed, 14 Sep 2022 00:00:00 +0530 Sat, 17 Sep 2022 07:57:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427802 The Tribunal ordered the liquidation of the Corporate Debtor, Mohan Motor Dealers Private Limited, following the Committee of Creditors' decision based on irregular transactions and lack of assets. A specific Insolvency Professional was appointed as the Liquidator to oversee the process, leading to the cessation of powers of the Board of Directors and key managerial persons. Legal proceedings against the company were restricted, with the Liquidator authorized to initiate actions. The order resulted in the discharge of officers and employees, except those involved in ongoing business operations. The Liquidator was directed to ensure compliance, report progress, and inform relevant parties, indicating ongoing oversight by the Tribunal. Case-Laws Insolvency and Bankruptcy Wed, 14 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427802