https://www.taxtmi.com/caselaws?id=417253 Unsecured creditors were treated as having locus to appeal in the liquidation proceedings, and exclusion of the COVID-19 period made the delayed filing within limitation, so the appeal was maintainable. On liquidation conduct, the record showed constitution of the Stakeholders' Consultation Committee and approvals for sale, but also communication gaps, unclear asset-grouping strategy, and delay between SCC decisions and auctions. Those concerns justified corrective scrutiny, yet not the exceptional step of replacing the liquidator or cancelling completed sales. The Tribunal instead directed expeditious completion of liquidation and restriction of liquidation costs to actual expenses. en-us Tue, 18 Jan 2022 00:00:00 +0530 Wed, 19 Jan 2022 08:51:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417253 Unsecured creditors were treated as having locus to appeal in the liquidation proceedings, and exclusion of the COVID-19 period made the delayed filing within limitation, so the appeal was maintainable. On liquidation conduct, the record showed constitution of the Stakeholders' Consultation Committee and approvals for sale, but also communication gaps, unclear asset-grouping strategy, and delay between SCC decisions and auctions. Those concerns justified corrective scrutiny, yet not the exceptional step of replacing the liquidator or cancelling completed sales. The Tribunal instead directed expeditious completion of liquidation and restriction of liquidation costs to actual expenses. Case-Laws Insolvency and Bankruptcy Tue, 18 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417253