https://www.taxtmi.com/caselaws?id=419016 The Tribunal dismissed the applications filed by M/s. Zio Homes Private Limited, refusing the extension of time for completing the purchase of a property and the waiver of interest on delayed payment. It was held that the Liquidator acted within legal boundaries by issuing the Letter of Intent (LOI) for a reduced extent of the property, as permitted under the Insolvency and Bankruptcy Code (IBC) and related regulations. The judgment emphasized the importance of complying with the terms set out in the EOI process memorandum, affirming the validity of the actions taken by the Liquidator in the e-auction process. en-us Thu, 17 Feb 2022 00:00:00 +0530 Wed, 02 Mar 2022 08:34:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419016 The Tribunal dismissed the applications filed by M/s. Zio Homes Private Limited, refusing the extension of time for completing the purchase of a property and the waiver of interest on delayed payment. It was held that the Liquidator acted within legal boundaries by issuing the Letter of Intent (LOI) for a reduced extent of the property, as permitted under the Insolvency and Bankruptcy Code (IBC) and related regulations. The judgment emphasized the importance of complying with the terms set out in the EOI process memorandum, affirming the validity of the actions taken by the Liquidator in the e-auction process. Case-Laws Insolvency and Bankruptcy Thu, 17 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419016