https://www.taxtmi.com/caselaws?id=308056 The National Company Law Tribunal, Mumbai, approved the liquidation of the Corporate Debtor after the Committee of Creditors rejected the sole resolution plan received and classified the Debtor as a fraud and willful defaulter. The Resolution Professional was appointed as the Liquidator with full authority over the liquidation process, including managing assets and initiating legal actions on behalf of the Debtor. The decision was made due to the absence of viable resolution plans, the Debtor's classification, and the lack of substantial assets, leading to the liquidation in accordance with the Insolvency and Bankruptcy Code. en-us Thu, 20 Jan 2022 00:00:00 +0530 Sat, 27 May 2023 09:34:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308056 The National Company Law Tribunal, Mumbai, approved the liquidation of the Corporate Debtor after the Committee of Creditors rejected the sole resolution plan received and classified the Debtor as a fraud and willful defaulter. The Resolution Professional was appointed as the Liquidator with full authority over the liquidation process, including managing assets and initiating legal actions on behalf of the Debtor. The decision was made due to the absence of viable resolution plans, the Debtor's classification, and the lack of substantial assets, leading to the liquidation in accordance with the Insolvency and Bankruptcy Code. Case-Laws Insolvency and Bankruptcy Thu, 20 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308056