The Tribunal reaffirmed that the IBC is meant to be a method for resolving the Corporate Debtor, not a procedure for collecting debt
The National Company Law Tribunal (NCLT) Mumbai bench has held that the Liquidator must not restrict the private sale to a single buyer but should strategize to attract the maximum number of buyers to maximize realization from the asset sale.
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On November 23, 2017, an order was issued admitting the corporate debtor to the Corporate Insolvency Resolution Process (CIRP). However, in accordance with an order dated 07.10.2020, the Adjudicating Authority ordered liquidation, appointing the Applicant as the Liquidator of the…
