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Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
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Insolvency and BankruptcyAugust 29, 2022Case LawsSC
Sale of assets of Corporate debtors - Validity of order of NCLAT permitting the Private Sale of the composite assets of the Corporate Debtor instead of taking the Second Swiss Challenge Process to its logical conclusion – the Core Committee constitutes 70.3% of the financial creditors and when they have weighed in to support the stand taken by the Liquidator to continue the bid process commenced on 24th August, 2021, there are no reason to foist the view of the NCLAT on the Liquidator that he ought to restart the process for sale of the composite assets of the Corporate Debtor from the scratch after issuing an open notice to the prospective buyers. - SC
Sale of assets of Corporate debtors - Validity of order of NCLAT permitting the Private Sale of the composite assets of the Corporate Debtor instead of taking the Second Swiss Challenge Process to its logical conclusion – the Core Committee constitutes 70.3% of the financial creditors and when they have weighed in to support the stand taken by the Liquidator to continue the bid process commenced on 24th August, 2021, there are no reason to foist the view of the NCLAT on the Liquidator that he ought to restart the process for sale of the composite assets of the Corporate Debtor from the scratch after issuing an open notice to the prospective buyers. - SC
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