https://www.taxtmi.com/caselaws?id=301499 Corporate insolvency proceedings were kept pending after liquidation had already been ordered and some assets had been sold by the liquidator. As the impugned order only reflected an adjournment for paucity of time and did not decide the parties' substantive rights, the Tribunal accepted the Financial Creditor's concern that further delay could deplete asset value and affect its claim. It therefore directed the Adjudicating Authority to expedite the proceedings and conclude the matter within three months, without entering into the merits of the underlying claims. en-us Tue, 19 Jan 2021 00:00:00 +0530 Wed, 06 Apr 2022 22:01:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301499 Corporate insolvency proceedings were kept pending after liquidation had already been ordered and some assets had been sold by the liquidator. As the impugned order only reflected an adjournment for paucity of time and did not decide the parties' substantive rights, the Tribunal accepted the Financial Creditor's concern that further delay could deplete asset value and affect its claim. It therefore directed the Adjudicating Authority to expedite the proceedings and conclude the matter within three months, without entering into the merits of the underlying claims. Case-Laws Companies Law Tue, 19 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301499