https://www.taxtmi.com/caselaws?id=313144 Liquidation may be ordered under section 33(1)(a) of the Insolvency and Bankruptcy Code where the maximum CIRP period has expired and no resolution plan is pending before the Adjudicating Authority. The absence of a specific CoC resolution for liquidation did not bar relief, because section 33(2) applies only where liquidation is proposed during CIRP on the basis of a CoC-approved decision. Ancillary objections that the request had become infructuous were rejected as hyper-technical, since further delay would undermine the Code's time-bound framework. Liquidation was therefore found maintainable and ordered. en-us Tue, 18 Apr 2023 00:00:00 +0530 Wed, 27 Mar 2024 19:51:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313144 Liquidation may be ordered under section 33(1)(a) of the Insolvency and Bankruptcy Code where the maximum CIRP period has expired and no resolution plan is pending before the Adjudicating Authority. The absence of a specific CoC resolution for liquidation did not bar relief, because section 33(2) applies only where liquidation is proposed during CIRP on the basis of a CoC-approved decision. Ancillary objections that the request had become infructuous were rejected as hyper-technical, since further delay would undermine the Code's time-bound framework. Liquidation was therefore found maintainable and ordered. Case-Laws Insolvency and Bankruptcy Tue, 18 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313144