https://www.taxtmi.com/article/detailed?id=11051 The draft proposes allowing the CoC to seek direct dissolution of a corporate debtor without liquidation when liquidation is infeasible; eliminates duplicate claim invitations and verification in liquidation by substituting the liquidator's verification duty with maintenance of the CIRP creditor list and omitting sections 38-42 and parts of section 35; empowers the liquidator to continue CIRP-initiated avoidance proceedings and commence fresh ones; gives the CoC supervisory authority in liquidation and power to replace the liquidator by 66% vote; restricts institution and continuation of suits during liquidation and requires secured creditors to elect within a stipulated period to realise or relinquish security, with deemed relinquishment on inaction. en-us Wed, 01 Feb 2023 08:59:48 +0530 Wed, 11 Feb 2026 15:59:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11051 The draft proposes allowing the CoC to seek direct dissolution of a corporate debtor without liquidation when liquidation is infeasible; eliminates duplicate claim invitations and verification in liquidation by substituting the liquidator's verification duty with maintenance of the CIRP creditor list and omitting sections 38-42 and parts of section 35; empowers the liquidator to continue CIRP-initiated avoidance proceedings and commence fresh ones; gives the CoC supervisory authority in liquidation and power to replace the liquidator by 66% vote; restricts institution and continuation of suits during liquidation and requires secured creditors to elect within a stipulated period to realise or relinquish security, with deemed relinquishment on inaction. Articles Corporate Laws / IBC / SEBI Wed, 01 Feb 2023 08:59:48 +0530 https://www.taxtmi.com/article/detailed?id=11051