https://www.taxtmi.com/caselaws?id=406522 Where liquidation remains incomplete because asset demarcation, sale steps and distribution still need to be carried out, the Tribunal may grant only a limited extension under the liquidation regulations. The request for a one-year extension was not fully accepted, although the process had not finished within the original period and the excluded lockdown period was relevant to the timeline. The Tribunal found that some additional time was necessary for effective asset realisation, but confined the extension to what was reasonably required and extended the liquidation period by six months. en-us Wed, 07 Apr 2021 00:00:00 +0530 Fri, 16 Apr 2021 08:56:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406522 Where liquidation remains incomplete because asset demarcation, sale steps and distribution still need to be carried out, the Tribunal may grant only a limited extension under the liquidation regulations. The request for a one-year extension was not fully accepted, although the process had not finished within the original period and the excluded lockdown period was relevant to the timeline. The Tribunal found that some additional time was necessary for effective asset realisation, but confined the extension to what was reasonably required and extended the liquidation period by six months. Case-Laws Insolvency and Bankruptcy Wed, 07 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406522