https://www.taxtmi.com/caselaws?id=423874 The Tribunal dismissed all applications challenging the private sale conducted by the Liquidator of the corporate debtor's assets. It affirmed the legality of the private sale, upheld the ineligibility of Ex-Promoters to participate in the bidding process under Section 29-A of the IBC, and ruled that Regulation 31A of the IBBI (Liquidation Process) Regulations does not apply retrospectively. The Tribunal emphasized the Liquidator's compliance with prescribed procedures and regulations, ultimately confirming the validity of the private sale and rejecting all challenges brought before it. en-us Thu, 21 Apr 2022 00:00:00 +0530 Fri, 17 Jun 2022 09:35:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423874 The Tribunal dismissed all applications challenging the private sale conducted by the Liquidator of the corporate debtor's assets. It affirmed the legality of the private sale, upheld the ineligibility of Ex-Promoters to participate in the bidding process under Section 29-A of the IBC, and ruled that Regulation 31A of the IBBI (Liquidation Process) Regulations does not apply retrospectively. The Tribunal emphasized the Liquidator's compliance with prescribed procedures and regulations, ultimately confirming the validity of the private sale and rejecting all challenges brought before it. Case-Laws Insolvency and Bankruptcy Thu, 21 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423874