https://www.taxtmi.com/caselaws?id=408461 The Tribunal upheld the validity of Regulation 21A of the IBBI (Liquidation Process) Regulations, 2016, emphasizing its interpretive role rather than striking down statutory provisions. It ruled that secured creditors are obligated to contribute to liquidation costs and directed a specific amount to be paid within 30 days. The Tribunal also granted an extension for the realization of security interests by the secured creditor, emphasizing compliance with relevant provisions. Overall, the decision aimed to balance the interests of all stakeholders involved in the liquidation process while upholding statutory regulations. en-us Fri, 04 Jun 2021 00:00:00 +0530 Fri, 11 Jun 2021 08:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408461 The Tribunal upheld the validity of Regulation 21A of the IBBI (Liquidation Process) Regulations, 2016, emphasizing its interpretive role rather than striking down statutory provisions. It ruled that secured creditors are obligated to contribute to liquidation costs and directed a specific amount to be paid within 30 days. The Tribunal also granted an extension for the realization of security interests by the secured creditor, emphasizing compliance with relevant provisions. Overall, the decision aimed to balance the interests of all stakeholders involved in the liquidation process while upholding statutory regulations. Case-Laws Insolvency and Bankruptcy Fri, 04 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408461