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IBC - Highlights / Catch Notes

Home Highlights November 2022 Year 2022 This

CIRP - Liquidation proeedings - fraudulent transactions - The ...

Insolvency and Bankruptcy

November 10, 2022

CIRP - Liquidation proeedings - fraudulent transactions - The self–contained IBC in Sec.35(2) empowers the liquidator to take possession (custody) and control of all properties and actionable claims of the CD. It has been adjudicated that the Respondents indulged in fraudulent transactions and they are personally liable to pay the amount of Rs. 21.37 Crores/- - the CD has actionable claims upon the schedule mentioned properties belonging to the Respondents. - Tri

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