https://www.taxtmi.com/caselaws?id=299233 The National Company Law Appellate Tribunal held that the Adjudicating Authority erred in imposing liability on the Appellant for failing to cooperate with the Resolution Professional, deeming it unjustified and unsupported. The Tribunal emphasized that the order of liquidation should not be connected to the Appellant's conduct. While acknowledging concerns of contempt of court, the Tribunal found the penalty imposed on the Appellant during liquidation to be beyond the Adjudicating Authority's jurisdiction. Consequently, the Appeals were allowed, and the liability for costs on the Appellant was deemed unwarranted. en-us Wed, 05 Feb 2020 00:00:00 +0530 Tue, 07 Dec 2021 20:23:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299233 The National Company Law Appellate Tribunal held that the Adjudicating Authority erred in imposing liability on the Appellant for failing to cooperate with the Resolution Professional, deeming it unjustified and unsupported. The Tribunal emphasized that the order of liquidation should not be connected to the Appellant's conduct. While acknowledging concerns of contempt of court, the Tribunal found the penalty imposed on the Appellant during liquidation to be beyond the Adjudicating Authority's jurisdiction. Consequently, the Appeals were allowed, and the liability for costs on the Appellant was deemed unwarranted. Case-Laws Insolvency and Bankruptcy Wed, 05 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299233