https://www.taxtmi.com/caselaws?id=369013 The court upheld the decision for liquidation of the corporate debtor, M/s. Gujarat NRE Coke Limited, due to the unviability of any resolution plan within the specified timeframe. An appeal against the liquidation order by M/s. Jindal Steel and Power Limited is pending before the NCLAT, which allowed the liquidation to proceed but restricted asset sales without prior approval. The application for an arrangement under the Companies Act, 2013 was stayed by the Appellate Tribunal, emphasizing the need to maintain procedural fairness. Requests to halt sale proceedings were deemed infructuous due to the stay on creditor and shareholder meetings. en-us Fri, 17 Aug 2018 00:00:00 +0530 Thu, 18 Oct 2018 07:34:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369013 The court upheld the decision for liquidation of the corporate debtor, M/s. Gujarat NRE Coke Limited, due to the unviability of any resolution plan within the specified timeframe. An appeal against the liquidation order by M/s. Jindal Steel and Power Limited is pending before the NCLAT, which allowed the liquidation to proceed but restricted asset sales without prior approval. The application for an arrangement under the Companies Act, 2013 was stayed by the Appellate Tribunal, emphasizing the need to maintain procedural fairness. Requests to halt sale proceedings were deemed infructuous due to the stay on creditor and shareholder meetings. Case-Laws Insolvency and Bankruptcy Fri, 17 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369013