https://www.taxtmi.com/caselaws?id=419055 A going-concern sale in liquidation was not treated as invalid under Regulation 32A of the IBBI (Liquidation Process) Regulations, 2016 where the liquidation had begun before the provision was inserted and the stakeholders' committee had unanimously approved the sale and reserve-price revisions. The applicant, having participated in the consultative process and acquiesced in the adopted course, could not later object because the sale was completed after the ninety-day period. The amendment and IBBI circular did not require cancellation of the sale on these facts, particularly after repeated failed auctions justified a lower reserve price and the sale preserved value for the estate. en-us Mon, 07 Feb 2022 00:00:00 +0530 Wed, 02 Mar 2022 16:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419055 A going-concern sale in liquidation was not treated as invalid under Regulation 32A of the IBBI (Liquidation Process) Regulations, 2016 where the liquidation had begun before the provision was inserted and the stakeholders' committee had unanimously approved the sale and reserve-price revisions. The applicant, having participated in the consultative process and acquiesced in the adopted course, could not later object because the sale was completed after the ninety-day period. The amendment and IBBI circular did not require cancellation of the sale on these facts, particularly after repeated failed auctions justified a lower reserve price and the sale preserved value for the estate. Case-Laws Insolvency and Bankruptcy Mon, 07 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419055