Court Rules Liquidation Focuses on Assets, Not Company Sale; IBC Procedures Must Be Followed for Closure Without Dissolution. https://www.taxtmi.com/highlights?id=56472 Seeking relief asking for closure of the liquidation process without dissolving the Corporate Debtor - When procedure itself is part of the enactment, the Regulating Authority cannot rewrite the procedure obliterating the provisions of IBC. Yes, the Regulating authority may bring in subordinate procedure for full implementation of the sections of the Code. What could be liquidated is the assets of the debtor company, this concept of liquidation of assets shall not be construed as inclusion of sale of the company - Tri en-us Thu, 28 Jan 2021 10:50:50 +0530 Thu, 28 Jan 2021 10:50:50 +0530 TaxTMI RSS Generator Court Rules Liquidation Focuses on Assets, Not Company Sale; IBC Procedures Must Be Followed for Closure Without Dissolution. https://www.taxtmi.com/highlights?id=56472 Seeking relief asking for closure of the liquidation process without dissolving the Corporate Debtor - When procedure itself is part of the enactment, the Regulating Authority cannot rewrite the procedure obliterating the provisions of IBC. Yes, the Regulating authority may bring in subordinate procedure for full implementation of the sections of the Code. What could be liquidated is the assets of the debtor company, this concept of liquidation of assets shall not be construed as inclusion of sale of the company - Tri Highlights Insolvency and Bankruptcy Thu, 28 Jan 2021 10:50:50 +0530 https://www.taxtmi.com/highlights?id=56472