https://www.taxtmi.com/caselaws?id=446017 Where no resolution plan is approved within the CIRP period and the committee of creditors validly resolves to liquidate the corporate debtor with full voting support, Section 33 of the Insolvency and Bankruptcy Code requires the Adjudicating Authority to pass a liquidation order. The time-bound insolvency framework and the commercial wisdom of the committee of creditors limit judicial interference, except where there is non-compliance with Section 30(2). On those facts, interference with the liquidation order was not warranted and the order was upheld. en-us Thu, 23 Nov 2023 00:00:00 +0530 Fri, 24 Nov 2023 07:41:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446017 Where no resolution plan is approved within the CIRP period and the committee of creditors validly resolves to liquidate the corporate debtor with full voting support, Section 33 of the Insolvency and Bankruptcy Code requires the Adjudicating Authority to pass a liquidation order. The time-bound insolvency framework and the commercial wisdom of the committee of creditors limit judicial interference, except where there is non-compliance with Section 30(2). On those facts, interference with the liquidation order was not warranted and the order was upheld. Case-Laws Insolvency and Bankruptcy Thu, 23 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446017