https://www.taxtmi.com/highlights?id=65394 Distribution of liquidation proceedings - waterfall mechanism - After CIRP since it failed, liquidation order was passed by the Adjudicating Authority on an application filed by the Liquidator under Section 33(1) of the IBC. Once corporate debtor went into liquidation and the petition for distribution of accumulated profit was filed wherein representatives of employees as well as representatives of shareholders were arrayed as party there was no reason for third person to file the present appeal. - AT en-us Thu, 01 Sep 2022 08:30:03 +0530 Thu, 01 Sep 2022 08:30:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=65394 Distribution of liquidation proceedings - waterfall mechanism - After CIRP since it failed, liquidation order was passed by the Adjudicating Authority on an application filed by the Liquidator under Section 33(1) of the IBC. Once corporate debtor went into liquidation and the petition for distribution of accumulated profit was filed wherein representatives of employees as well as representatives of shareholders were arrayed as party there was no reason for third person to file the present appeal. - AT Highlights Insolvency and Bankruptcy Thu, 01 Sep 2022 08:30:03 +0530 https://www.taxtmi.com/highlights?id=65394