https://www.taxtmi.com/caselaws?id=414130 Liquidation completion under the insolvency framework justified dissolution where the liquidation report showed full realisation of assets, verification of claims, closure of the liquidation account, and no remaining assets or liabilities for distribution. The tribunal accepted that the secured creditor could realise its security interest after obtaining the liquidator's permission, and that the sale proceeds were properly applied first towards insolvency resolution process cost and liquidation cost before adjustment against secured debt. The liquidation proceedings were accordingly brought to an end, the corporate debtor stood dissolved, and the liquidator was discharged in line with the statutory distribution scheme. en-us Fri, 08 Oct 2021 00:00:00 +0530 Fri, 29 Oct 2021 04:49:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414130 Liquidation completion under the insolvency framework justified dissolution where the liquidation report showed full realisation of assets, verification of claims, closure of the liquidation account, and no remaining assets or liabilities for distribution. The tribunal accepted that the secured creditor could realise its security interest after obtaining the liquidator's permission, and that the sale proceeds were properly applied first towards insolvency resolution process cost and liquidation cost before adjustment against secured debt. The liquidation proceedings were accordingly brought to an end, the corporate debtor stood dissolved, and the liquidator was discharged in line with the statutory distribution scheme. Case-Laws Insolvency and Bankruptcy Fri, 08 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414130