https://www.taxtmi.com/caselaws?id=433588 Where the liquidation sale documents expressly allowed the liquidator to seek Adjudicating Authority approval, a going-concern sale of the corporate debtor was upheld because the auction terms contemplated post-approval transfer and payment, the successful bidder paid within the stipulated period, and the later reserve-price reduction and belated higher offer did not undermine the completed process. The challenge based on alleged non-compliance with the liquidation timeline therefore failed. Refusal to appoint an independent forensic auditor was also sustained because the assets had already been valued, the sale notice issued, and the auction concluded, leaving no sufficient basis for such relief at the instance of the appellant. en-us Fri, 03 Feb 2023 00:00:00 +0530 Sat, 04 Feb 2023 08:42:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433588 Where the liquidation sale documents expressly allowed the liquidator to seek Adjudicating Authority approval, a going-concern sale of the corporate debtor was upheld because the auction terms contemplated post-approval transfer and payment, the successful bidder paid within the stipulated period, and the later reserve-price reduction and belated higher offer did not undermine the completed process. The challenge based on alleged non-compliance with the liquidation timeline therefore failed. Refusal to appoint an independent forensic auditor was also sustained because the assets had already been valued, the sale notice issued, and the auction concluded, leaving no sufficient basis for such relief at the instance of the appellant. Case-Laws Insolvency and Bankruptcy Fri, 03 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433588