Corporate insolvency resolution process amended with expanded disclosure, guarantor asset transfer rules, and new dissolution and restoration procedur...
Liability of Purchaser of corporate debtor under liquidation under auction - Certain demand raised by the liquidator - now post the execution of the Sale Certificate, the demand raised by the Liquidator to the Applicant for the Interest as well as TDS is not maintainable. The Liquidator is at liberty to file for refund with the Income Tax department for the refund of TDS, if any, applicable to this case. The Liquidator is also directed to hand over the possession of the Corporate Debtors assets as per Schedule I of the Sale Certificate to the Applicant. - Tri
Liability of Purchaser of corporate debtor under liquidation under auction - Certain demand raised by the liquidator - now post the execution of the Sale Certificate, the demand raised by the Liquidator to the Applicant for the Interest as well as TDS is not maintainable. The Liquidator is at liberty to file for refund with the Income Tax department for the refund of TDS, if any, applicable to this case. The Liquidator is also directed to hand over the possession of the Corporate Debtors assets as per Schedule I of the Sale Certificate to the Applicant. - Tri
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