https://www.taxtmi.com/caselaws?id=290695 The Tribunal approved the Resolution Professional's application to sell a non-core asset, a premises owned by the Corporate Debtor, to clear overseas debt and enhance value during the Corporate Insolvency Resolution Process. The sale proceeds were to be used to settle dues to US Exim Bank and HDFC, particularly related to finance lease on six aircraft. The approval was granted with no objections from HDFC or the Committee of Creditors, allowing the RP to proceed with the sale and settlement, ensuring the benefit of the Corporate Debtor and stakeholders while maintaining HDFC's rights until full payment. en-us Thu, 11 Jun 2020 00:00:00 +0530 Sat, 10 Oct 2020 10:34:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290695 The Tribunal approved the Resolution Professional's application to sell a non-core asset, a premises owned by the Corporate Debtor, to clear overseas debt and enhance value during the Corporate Insolvency Resolution Process. The sale proceeds were to be used to settle dues to US Exim Bank and HDFC, particularly related to finance lease on six aircraft. The approval was granted with no objections from HDFC or the Committee of Creditors, allowing the RP to proceed with the sale and settlement, ensuring the benefit of the Corporate Debtor and stakeholders while maintaining HDFC's rights until full payment. Case-Laws Insolvency and Bankruptcy Thu, 11 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290695