https://www.taxtmi.com/caselaws?id=457988 The NCLT Mumbai ordered liquidation of a corporate debtor under section 33 of the Insolvency and Bankruptcy Code 2016. The Committee of Creditors unanimously passed a resolution for liquidation with 100% voting share. The tribunal noted that mortgaged property and associated debt were intricately linked and could not be segregated during liquidation proceedings. The Resolution Professional was appointed as Liquidator to proceed with asset liquidation, with valuation report already on record. The application was disposed of with authorization for the Liquidator to take necessary steps for asset liquidation. en-us Wed, 09 May 2018 00:00:00 +0530 Tue, 01 Oct 2024 20:17:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457988 The NCLT Mumbai ordered liquidation of a corporate debtor under section 33 of the Insolvency and Bankruptcy Code 2016. The Committee of Creditors unanimously passed a resolution for liquidation with 100% voting share. The tribunal noted that mortgaged property and associated debt were intricately linked and could not be segregated during liquidation proceedings. The Resolution Professional was appointed as Liquidator to proceed with asset liquidation, with valuation report already on record. The application was disposed of with authorization for the Liquidator to take necessary steps for asset liquidation. Case-Laws IBC Wed, 09 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457988