https://www.taxtmi.com/caselaws?id=788699 Approved resolution plans under the Insolvency and Bankruptcy Code cannot be revived de novo once persistent non-implementation leads to valid liquidation proceedings under Section 33. The tribunal held that the CIRP had already culminated in approval of a plan, and after repeated default by the successful resolution applicant, the process had lawfully shifted into liquidation. A party who itself initiated liquidation could not later seek restoration of that application and revival of a concluded CIRP. The cited precedents were inapplicable because they arose on materially different facts and did not support revival after failure of the revised plan and commencement of liquidation. en-us Wed, 18 Mar 2026 00:00:00 +0530 Fri, 27 Mar 2026 08:52:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788699 Approved resolution plans under the Insolvency and Bankruptcy Code cannot be revived de novo once persistent non-implementation leads to valid liquidation proceedings under Section 33. The tribunal held that the CIRP had already culminated in approval of a plan, and after repeated default by the successful resolution applicant, the process had lawfully shifted into liquidation. A party who itself initiated liquidation could not later seek restoration of that application and revival of a concluded CIRP. The cited precedents were inapplicable because they arose on materially different facts and did not support revival after failure of the revised plan and commencement of liquidation. Case-Laws IBC Wed, 18 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788699