https://www.taxtmi.com/caselaws?id=419777 Where unsold liquidation assets are not readily realisable and further recovery efforts would only prolong liquidation and increase costs, the Tribunal may approve their distribution among stakeholders in proportion to their claims under the liquidation regulations. Consent of the stakeholders and the absence of objection to the proposed mode of transfer supported approval of distribution at their own cost and convenience after issuance of the necessary certificate or instruction slip. The proposed distribution of unsold assets was accordingly approved, and the liquidation application was disposed of with discharge of the liquidator subject to compliance. en-us Wed, 09 Mar 2022 00:00:00 +0530 Mon, 21 Mar 2022 08:13:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419777 Where unsold liquidation assets are not readily realisable and further recovery efforts would only prolong liquidation and increase costs, the Tribunal may approve their distribution among stakeholders in proportion to their claims under the liquidation regulations. Consent of the stakeholders and the absence of objection to the proposed mode of transfer supported approval of distribution at their own cost and convenience after issuance of the necessary certificate or instruction slip. The proposed distribution of unsold assets was accordingly approved, and the liquidation application was disposed of with discharge of the liquidator subject to compliance. Case-Laws Insolvency and Bankruptcy Wed, 09 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419777