The Appellate Tribunal dismissed the appeal, holding that the...

The Appellate Tribunal dismissed the appeal, holding that the Adjudicating Authority rightly refused to grant reliefs and concessions to the Appellant regarding extinguishment of claims and liabilities up to the date of e-auction sale of the Corporate Debtor as a 'going concern'. The reliefs and concessions granted were limited to the period prior to the date of CIRP commencement. Claims, known or unknown, disclosed or undisclosed, are to be dealt with as per Section 53 of the IBC up to the cut-off date, i.e., the date of commencement of liquidation, as per the e-auction Notice. Regulations 12 and 16 contemplate filing of claims as on the liquidation commencement date, and there can be no extinguishment of claims up to the date of e-auction sale. The prayer for granting reliefs and concessions up to the e-auction date is not in accord with the statutory scheme of the IBBI (Liquidation Process) Regulations, 2016.