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IBC - Highlights / Catch Notes

Home Highlights February 2024 Year 2024 This

Validity of order of liquidation of the Corporate Debtor - The ...

Insolvency and Bankruptcy

February 1, 2024

Validity of order of liquidation of the Corporate Debtor - The Appellate Tribunal concluded that the unanimous decision of the CoC to liquidate the Corporate Debtor, considering the lack of assets and the cancellation of the main leasehold asset, was appropriate. The Appellants, being promoters/shareholders, did not have the locus standi to challenge the liquidation order.

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