https://www.taxtmi.com/caselaws?id=306882 The Adjudicating Authority rejected the Resolution Plan for 'Bharti Defence and Infrastructure Ltd.' and ordered liquidation due to national importance and workforce considerations. Allegations of irregularity and conflict of interest were raised against the Resolution Professional. The Resolution Applicant's disinterest in pursuing the plan was noted. The Appellate Tribunal directed the liquidator to focus on revival and continuation of the Corporate Debtor, emphasizing protection from management and avoiding liquidation. The appeal was disposed of with instructions for the liquidator to act in line with the Tribunal's decisions. en-us Tue, 14 May 2019 00:00:00 +0530 Fri, 03 Mar 2023 22:18:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306882 The Adjudicating Authority rejected the Resolution Plan for 'Bharti Defence and Infrastructure Ltd.' and ordered liquidation due to national importance and workforce considerations. Allegations of irregularity and conflict of interest were raised against the Resolution Professional. The Resolution Applicant's disinterest in pursuing the plan was noted. The Appellate Tribunal directed the liquidator to focus on revival and continuation of the Corporate Debtor, emphasizing protection from management and avoiding liquidation. The appeal was disposed of with instructions for the liquidator to act in line with the Tribunal's decisions. Case-Laws Insolvency and Bankruptcy Tue, 14 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306882