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IBC - Highlights / Catch Notes

Home Highlights September 2022 Year 2022 This

CIRP proceedings - validity of order of liquidation - Wither the ...

Insolvency and Bankruptcy

September 10, 2022

CIRP proceedings - validity of order of liquidation - Wither the Resolution Professional (RP) has not at all taken any sincere efforts for obtaining appropriate resolution plan - there was complete non-cooperation by the appellants who were suspended directors of the corporate Debtor. It is further evident that COC resolution was with 100% voting for liquidation of the Corporate Debtor and as such we do not find any justification to interfere with the impugned order. - AT

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