https://www.taxtmi.com/caselaws?id=287342 The Tribunal held that the shares held by the corporate debtor in respondent No. 5 are part of the Liquidation Estate, allowing the liquidator to sell them and nominate directors. The liquidator can remove existing nominee directors and appoint new ones post liquidation order. The liquidator's authority to manage and sell the shares, along with appointing new directors, was affirmed for the beneficial liquidation of assets. Respondents were directed to vacate their positions, and respondent 5 was instructed to cooperate with the liquidator's decisions. The application was disposed of, with certified copies to be issued upon compliance. en-us Wed, 18 Dec 2019 00:00:00 +0530 Fri, 10 Apr 2020 10:51:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287342 The Tribunal held that the shares held by the corporate debtor in respondent No. 5 are part of the Liquidation Estate, allowing the liquidator to sell them and nominate directors. The liquidator can remove existing nominee directors and appoint new ones post liquidation order. The liquidator's authority to manage and sell the shares, along with appointing new directors, was affirmed for the beneficial liquidation of assets. Respondents were directed to vacate their positions, and respondent 5 was instructed to cooperate with the liquidator's decisions. The application was disposed of, with certified copies to be issued upon compliance. Case-Laws Insolvency and Bankruptcy Wed, 18 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287342