https://www.taxtmi.com/caselaws?id=432558 A committee of creditors' resolution to liquidate a corporate debtor under Section 33(2) of the Insolvency and Bankruptcy Code is wide in scope, but it is not immune from scrutiny on the facts of the case. Liquidation need not be ordered mechanically where the resolution process has not been meaningfully exhausted, including the stages relating to the information memorandum and invitation for expression of interest. Where Form-G has been issued and the expression of interest period is still open, the committee may be required to reconsider liquidation in light of further developments. The stated position is that resolution efforts should be given due effect before liquidation is resorted to. en-us Fri, 06 Jan 2023 00:00:00 +0530 Mon, 09 Jan 2023 08:58:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432558 A committee of creditors' resolution to liquidate a corporate debtor under Section 33(2) of the Insolvency and Bankruptcy Code is wide in scope, but it is not immune from scrutiny on the facts of the case. Liquidation need not be ordered mechanically where the resolution process has not been meaningfully exhausted, including the stages relating to the information memorandum and invitation for expression of interest. Where Form-G has been issued and the expression of interest period is still open, the committee may be required to reconsider liquidation in light of further developments. The stated position is that resolution efforts should be given due effect before liquidation is resorted to. Case-Laws Insolvency and Bankruptcy Fri, 06 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432558