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Issues: Whether the Company Appeals challenging the NCLT order directing liquidation and rejecting consideration of the appellant's resolution plan have become infructuous by reason of a subsequent NCLT order closing the liquidation proceedings on account of sale of the corporate debtor as a going concern and relieving the liquidator.
Analysis: The Appellate Tribunal considered the status of the liquidation process in light of the subsequent order passed by the NCLT on 03.12.2025 which records that the corporate debtor has been sold as a going concern, orders closure of liquidation proceedings under Regulation 45(3) of the Insolvency & Bankruptcy Board of India (Liquidation Process) Regulations, 2016, and relieves the liquidator. The appellate challenge to the order directing liquidation and to orders rejecting consideration of the resolution plan no longer has practical efficacy once the liquidation has been closed and the assets and corporate status have been dealt with pursuant to the sale as a going concern. The Tribunal therefore treated the appeals as having lost their practical purpose.
Conclusion: The appeals are dismissed as having been rendered infructuous, without prejudice to any rights parties may have to agitate their claims before an appropriate forum in accordance with law.
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