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Home Highlights July 2019 Year 2019 This

Liquidation u/s 33 of the I&B Code - resolution plan from ...

Case Laws     Insolvency and Bankruptcy

July 24, 2019

Liquidation u/s 33 of the I&B Code - resolution plan from promoters - no such Plan can be admitted as more than 270 days have passed and in absence of any viable and feasible ‘Resolution Plan’, there was no option to the Adjudicating Authority, but to pass an order u/s 33 - it will be open to the Appellant/ Members to propose any arrangement/ scheme in terms of Section 230 of the Companies Act before Liquidator

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