Section 33(1)(b) in Insolvency And Bankruptcy Code, 2016

[Cites 0, Cited by 0] [Section 33(1)] [Section 33] [Entire Act]

(b)rejects the resolution plan under section 31 for the non-compliance of the requirements specified therein, it shall -

(i)pass an order requiring the corporate debtor to be liquidated in the manner as laid down in this Chapter;

(ii)issue a public announcement stating that the corporate debtor is in liquidation; and

(iii)require such order to be sent to the authority with which the corporate debtor is registered.

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