https://www.taxtmi.com/caselaws?id=430211 The Tribunal approved the acquisition of Sterling Biotech Limited as a going concern under liquidation. The successful bidder complied with the terms, including an upfront payment, and various reliefs were granted, such as extinguishment of liabilities and regulatory exemptions. Deviations from the Process Document were accepted for the best interest of the Corporate Debtor. The extinguishment of liabilities and security interests was approved, ensuring a clean slate for the Acquirers. The Liquidator was directed to cooperate post-acquisition. The Applicant was ordered to deposit the balance sale consideration for full ownership rights in the Corporate Debtor. en-us Fri, 11 Nov 2022 00:00:00 +0530 Tue, 15 Nov 2022 09:15:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430211 The Tribunal approved the acquisition of Sterling Biotech Limited as a going concern under liquidation. The successful bidder complied with the terms, including an upfront payment, and various reliefs were granted, such as extinguishment of liabilities and regulatory exemptions. Deviations from the Process Document were accepted for the best interest of the Corporate Debtor. The extinguishment of liabilities and security interests was approved, ensuring a clean slate for the Acquirers. The Liquidator was directed to cooperate post-acquisition. The Applicant was ordered to deposit the balance sale consideration for full ownership rights in the Corporate Debtor. Case-Laws Insolvency and Bankruptcy Fri, 11 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430211