https://www.taxtmi.com/caselaws?id=397598 The Tribunal modified the Adjudicating Authority's order regarding the treatment of Liquidator's fees in relation to the Income Tax refund amount. It held that the Income Tax refund should be considered a current asset of the Corporate Debtor, and the Liquidator's fees should be determined based on the value of the entire liquidation estate assets, including the refund. The Tribunal emphasized the Liquidator's entitlement to claim remuneration for specific tasks, ensuring compliance with the Insolvency and Bankruptcy Code and IBBI regulations. The Appeal was disposed of without costs, and the application was closed, providing clarity on the legal framework governing the liquidation process. en-us Thu, 27 Feb 2020 00:00:00 +0530 Mon, 24 Aug 2020 11:44:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397598 The Tribunal modified the Adjudicating Authority's order regarding the treatment of Liquidator's fees in relation to the Income Tax refund amount. It held that the Income Tax refund should be considered a current asset of the Corporate Debtor, and the Liquidator's fees should be determined based on the value of the entire liquidation estate assets, including the refund. The Tribunal emphasized the Liquidator's entitlement to claim remuneration for specific tasks, ensuring compliance with the Insolvency and Bankruptcy Code and IBBI regulations. The Appeal was disposed of without costs, and the application was closed, providing clarity on the legal framework governing the liquidation process. Case-Laws Insolvency and Bankruptcy Thu, 27 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397598