Company Sold As Going Concern During Liquidation Cannot Automatically Escape GST Liabilities: Madras High Court
The Madurai Bench of the Madras High Court has held that a company sold as a going concern during liquidation cannot claim that its liabilities are automatically extinguished under the clean-slate principle of insolvency law. Justice C. Saravanan observed that a buyer acquiring a corporate debtor as a going concern takes over its assets and…

