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IBC - Highlights / Catch Notes

Home Highlights September 2020 Year 2020 This

Liquidation of Corporate Debtor - no resolution plan was ...

Insolvency and Bankruptcy

September 9, 2020

Liquidation of Corporate Debtor - no resolution plan was received during the CIRP proceedings - The Adjudicating Authority has rightly observed that even after pushing the Corporate Debtor into liquidation, Promoter/Ex-Director of the Corporate Debtor can take recourse to Section 230 of the Companies Act, 2013 by submitting a scheme for revival of the Corporate Debtor, subject of course to eligibility of the applicant. - AT

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