https://www.taxtmi.com/caselaws?id=412582 The Tribunal held that the amended Clause 12 of Schedule I should apply to pending liquidation processes, regardless of their commencement date, to address practical difficulties faced by Liquidators. The Circular issued by IBBI restricting the applicability of the amendment was deemed legally unenforceable. The Tribunal's decision aimed to ensure procedural fairness and alleviate challenges in the liquidation process, aligning with the objectives of the Insolvency and Bankruptcy Code. en-us Mon, 20 Sep 2021 00:00:00 +0530 Wed, 22 Sep 2021 06:17:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412582 The Tribunal held that the amended Clause 12 of Schedule I should apply to pending liquidation processes, regardless of their commencement date, to address practical difficulties faced by Liquidators. The Circular issued by IBBI restricting the applicability of the amendment was deemed legally unenforceable. The Tribunal's decision aimed to ensure procedural fairness and alleviate challenges in the liquidation process, aligning with the objectives of the Insolvency and Bankruptcy Code. Case-Laws Insolvency and Bankruptcy Mon, 20 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412582