https://www.taxtmi.com/caselaws?id=434520 The Appeals challenging the Impugned Orders for Liquidation of Corporate Debtors M/s. JKS the Banyaan Private Limited and M/s. Pondicherry Extraction Industries Private Limited were dismissed. The Adjudicating Authority's decision to allow Liquidation applications was upheld, rejecting the Appellant's arguments for consolidation of Corporate Debtors' CIRP. The lack of cooperation from the Appellant and ex-Directors, coupled with the CoC's unanimous vote for Liquidation, led to the dismissal of the Appeals. The Tribunal found the CoC's decision for Liquidation lawful, emphasizing the Appellant's failure to meet consolidation requirements. en-us Thu, 23 Feb 2023 00:00:00 +0530 Sun, 26 Feb 2023 10:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434520 The Appeals challenging the Impugned Orders for Liquidation of Corporate Debtors M/s. JKS the Banyaan Private Limited and M/s. Pondicherry Extraction Industries Private Limited were dismissed. The Adjudicating Authority's decision to allow Liquidation applications was upheld, rejecting the Appellant's arguments for consolidation of Corporate Debtors' CIRP. The lack of cooperation from the Appellant and ex-Directors, coupled with the CoC's unanimous vote for Liquidation, led to the dismissal of the Appeals. The Tribunal found the CoC's decision for Liquidation lawful, emphasizing the Appellant's failure to meet consolidation requirements. Case-Laws Insolvency and Bankruptcy Thu, 23 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434520