NCLT Orders Liquidation Of Tulip Hotels Under Insolvency And Bankruptcy Code After Failed Resolution Process
The National Company Law Tribunal (NCLT), has ordered the liquidation of M/s Tulip Hotels Private Limited under the Insolvency and Bankruptcy Code (IBC), 2016. The decision comes after the failure of the Corporate Insolvency Resolution Process (CIRP) to yield a resolution plan within the prescribed timeline. The CIRP for Tulip Hotels began on May 16,…