https://www.taxtmi.com/caselaws?id=411422 A harmonious reading of the IBC and liquidation regulations permits a liquidator to sell the corporate debtor or its business as a going concern during liquidation, because the framework under Regulations 32, 32A and 45(3) supports value maximization, revival, and preservation of employment. Section 54 was construed as governing dissolution after liquidation of assets, not as barring closure where a going concern sale has occurred. The regulations were therefore treated as consistent with the Code and as a valid part of the liquidation process, while an unduly restrictive interpretation of liquidation was found contrary to the Code's scope and objectives. en-us Tue, 24 Aug 2021 00:00:00 +0530 Wed, 25 Aug 2021 09:09:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411422 A harmonious reading of the IBC and liquidation regulations permits a liquidator to sell the corporate debtor or its business as a going concern during liquidation, because the framework under Regulations 32, 32A and 45(3) supports value maximization, revival, and preservation of employment. Section 54 was construed as governing dissolution after liquidation of assets, not as barring closure where a going concern sale has occurred. The regulations were therefore treated as consistent with the Code and as a valid part of the liquidation process, while an unduly restrictive interpretation of liquidation was found contrary to the Code's scope and objectives. Case-Laws Insolvency and Bankruptcy Tue, 24 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411422