Resolution Plan Rejected, Corporate Debtor Faces Liquidation Due to Ineligibility Under Insolvency and Bankruptcy Code.

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....CIRP - Disapproval of Resolution Plan - Liquidation of the Corporate Debtor ordered - ineligible under Section 29 (A) (g) of the Code - It is evident that once the Resolution Applicant become ineligible under Section 29 (A) (g) of the Code, the Adjudicating Authority is bound to reject the Resolution Plan and consequently order for Liquidation of the Corporate Debtor - AT....