Court Grants Relief to Small Suppliers in Financial Strain, Orders Asset Distribution as per Section 53 of Insolvency Code. https://www.taxtmi.com/highlights?id=66895 Cost of CIRP / Liquidation - Liability of operational creditors - Appellants are small suppliers and they don’t want to be burdened with additional liability as their business is in a very bad shape and they have lost already a crore plus. - Prayer accepted - Let Liquidation be continued and let amount be realized during Liquidation and be distributed in accordance with section 53 of the Code. - AT en-us Sat, 03 Dec 2022 06:59:49 +0530 Sat, 03 Dec 2022 06:59:49 +0530 TaxTMI RSS Generator Court Grants Relief to Small Suppliers in Financial Strain, Orders Asset Distribution as per Section 53 of Insolvency Code. https://www.taxtmi.com/highlights?id=66895 Cost of CIRP / Liquidation - Liability of operational creditors - Appellants are small suppliers and they don’t want to be burdened with additional liability as their business is in a very bad shape and they have lost already a crore plus. - Prayer accepted - Let Liquidation be continued and let amount be realized during Liquidation and be distributed in accordance with section 53 of the Code. - AT Highlights Insolvency and Bankruptcy Sat, 03 Dec 2022 06:59:49 +0530 https://www.taxtmi.com/highlights?id=66895