The corporate debtor may be sold as a going concern or its assets may be sold after liquidation
The Calcutta High Court has held that in light of the bar under Section 33(5) of the Insolvency and Bankruptcy Code, 2016 (Code), all proceedings, including those that were ongoing at the time of the order, under the Foreign Exchange Management Act, 1999 (FEMA), cannot be continued or new proceedings can be started once a liquidation order against the corporate debtor is issued.
Cera Sanitaryware wins on Section 14A issue; improper invocation of Rule 8D leads to deletion of Rs.4.70 lakh disallowance [Read Order]
The petitioner, Anup Kumar Singh, attempted to revoke notices given under the FEMA on November 30, 2022, and January 30, 2023. By order…
