Liquidation of Corporate Debtor can be initiated When Successful Resolution Applicant Fails to Obtain Approvals Within One Year: NCLAT [Read Order]
The National Company Law Appellate Tribunal (NCLAT) New Delhi bench has held that when a successful resolution applicant fails to obtain necessary approvals within one year from the date of approval of the resolution plan, liquidation of the corporate debtor can be initiated. A Successful Resolution Applicant (SRA), the appellant, Taguda Pte Ltd.has filed a…







