https://www.taxtmi.com/caselaws?id=427859 Public notice of liquidation auctions was sufficient under the regulations, and the absence of individual notice to a shareholder did not invalidate the sale. The ninety-day balance-payment timeline was treated as directory in the exceptional Covid-19 context, with extension upheld where restrictions and tax attachment impeded payment. Reduction of the reserve price by up to twenty-five per cent after a failed auction was valid, and the liquidator's choice to sell the assets as a whole was accepted as a lawful commercial decision aimed at maximising realisation. The consultation committee requirement was held inapplicable to a liquidation commenced before the amendment, and the adjudicating authority was found to lack power to review its own concluded order. en-us Fri, 16 Sep 2022 00:00:00 +0530 Mon, 19 Sep 2022 09:34:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427859 Public notice of liquidation auctions was sufficient under the regulations, and the absence of individual notice to a shareholder did not invalidate the sale. The ninety-day balance-payment timeline was treated as directory in the exceptional Covid-19 context, with extension upheld where restrictions and tax attachment impeded payment. Reduction of the reserve price by up to twenty-five per cent after a failed auction was valid, and the liquidator's choice to sell the assets as a whole was accepted as a lawful commercial decision aimed at maximising realisation. The consultation committee requirement was held inapplicable to a liquidation commenced before the amendment, and the adjudicating authority was found to lack power to review its own concluded order. Case-Laws Insolvency and Bankruptcy Fri, 16 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427859