https://www.taxtmi.com/caselaws?id=428120 When the Committee of Creditors, acting in its commercial wisdom, concludes that revival is not feasible and resolves to liquidate the corporate debtor, the Tribunal will ordinarily not interfere. The insolvency framework therefore permits liquidation on that recommendation, and the existing Resolution Professional may be appointed as Liquidator. Consequential statutory steps follow, including cessation of the earlier moratorium, commencement of liquidation moratorium, continuation of liquidation proceedings, investigation into the corporate affairs, and filing of the preliminary report within the prescribed time. en-us Tue, 13 Sep 2022 00:00:00 +0530 Sat, 24 Sep 2022 08:19:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428120 When the Committee of Creditors, acting in its commercial wisdom, concludes that revival is not feasible and resolves to liquidate the corporate debtor, the Tribunal will ordinarily not interfere. The insolvency framework therefore permits liquidation on that recommendation, and the existing Resolution Professional may be appointed as Liquidator. Consequential statutory steps follow, including cessation of the earlier moratorium, commencement of liquidation moratorium, continuation of liquidation proceedings, investigation into the corporate affairs, and filing of the preliminary report within the prescribed time. Case-Laws Insolvency and Bankruptcy Tue, 13 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428120