Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
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Insolvency and BankruptcyMarch 30, 2024Case LawsAT
Seeking grant of Interim Stay of the Sale Notice - sale of assets of the Corporate Debtor and the property of one Mr. S. Srinivasan (Guarantor) - The adjudicating authority dismissed the appellant's application for relief, citing reasons such as the corporate debtor's properties being mortgaged to a secured financial creditor and previous decisions allowing joint sales of assets. - The tribunal emphasized that the appellant's failure to challenge the subsequent e-auction notice amounted to waiver and estoppel by conduct.
Seeking grant of Interim Stay of the Sale Notice - sale of assets of the Corporate Debtor and the property of one Mr. S. Srinivasan (Guarantor) - The adjudicating authority dismissed the appellant's application for relief, citing reasons such as the corporate debtor's properties being mortgaged to a secured financial creditor and previous decisions allowing joint sales of assets. - The tribunal emphasized that the appellant's failure to challenge the subsequent e-auction notice amounted to waiver and estoppel by conduct.
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