https://www.taxtmi.com/caselaws?id=422322 The Appellate Tribunal upheld the Adjudicating Authority's decision to cancel the sale of the Corporate Debtor due to the Auction Purchaser's failure to make payment within the prescribed timeline. The Tribunal affirmed that the Auction Purchaser's non-compliance with the payment obligations as per the regulations warranted the cancellation of the sale. The Appeal was dismissed, confirming the cancellation of the sale and granting permission for the Liquidator to conduct a fresh E-Auction for the Corporate Debtor. en-us Thu, 12 May 2022 00:00:00 +0530 Fri, 13 May 2022 07:50:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422322 The Appellate Tribunal upheld the Adjudicating Authority's decision to cancel the sale of the Corporate Debtor due to the Auction Purchaser's failure to make payment within the prescribed timeline. The Tribunal affirmed that the Auction Purchaser's non-compliance with the payment obligations as per the regulations warranted the cancellation of the sale. The Appeal was dismissed, confirming the cancellation of the sale and granting permission for the Liquidator to conduct a fresh E-Auction for the Corporate Debtor. Case-Laws Insolvency and Bankruptcy Thu, 12 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422322