Liquidation process continues subject to restraint on sale or confirmation of company assets without prior tribunal permission

Interim directions allowed the liquidation process to proceed, while sale or confirmation of sale of the company's assets was restrained unless prior permission of the Appellate Tribunal was obtained. The matter was posted for admission, with the operative effect being preservation of asset control pending further consideration and protection against unauthorised disposal during liquidation.

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Outcome: The appeal was posted for admission, and interim directions were issued permitting the liquidation process to continue while restraining sale or confirmation of sale of the company's assets without prior permission of the Appellate Tribunal.

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