https://www.taxtmi.com/caselaws?id=438741 The appeal against the liquidation order of a corporate debtor company was dismissed. The Adjudicating Authority upheld the liquidation application under Section 33(1) of the Insolvency and Bankruptcy Code as no resolution plans were pending, and the Corporate Insolvency Resolution Process period had expired. Despite efforts by the suspended director to secure financial assistance for an One Time Settlement proposal, the Tribunal emphasized the need to adhere to the law. A final opportunity for settlement within 14 days was granted, with Cantor Fitzgerald expressing willingness to fund any settlement. The appeal was disposed of with no costs. en-us Wed, 07 Jun 2023 00:00:00 +0530 Thu, 08 Jun 2023 09:08:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438741 The appeal against the liquidation order of a corporate debtor company was dismissed. The Adjudicating Authority upheld the liquidation application under Section 33(1) of the Insolvency and Bankruptcy Code as no resolution plans were pending, and the Corporate Insolvency Resolution Process period had expired. Despite efforts by the suspended director to secure financial assistance for an One Time Settlement proposal, the Tribunal emphasized the need to adhere to the law. A final opportunity for settlement within 14 days was granted, with Cantor Fitzgerald expressing willingness to fund any settlement. The appeal was disposed of with no costs. Case-Laws Insolvency and Bankruptcy Wed, 07 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438741