https://www.taxtmi.com/caselaws?id=308604 In liquidation proceedings, the tribunal declined to interfere with the order excluding only 100 days from the claimed 129 days in the liquidation timeline, noting that the relevant period had already been accounted for and that no ground existed to disturb the exclusion granted by the Adjudicating Authority. It also reiterated that liquidation is a last resort and that, before any sale of assets in liquidation, the liquidator must first attempt revival through a compromise or arrangement under Sections 230 to 232 of the Companies Act, 2013; only if that effort fails may sale of assets proceed, preferably as a going concern, under the insolvency framework. en-us Mon, 02 Dec 2019 00:00:00 +0530 Sat, 08 Jul 2023 07:36:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308604 In liquidation proceedings, the tribunal declined to interfere with the order excluding only 100 days from the claimed 129 days in the liquidation timeline, noting that the relevant period had already been accounted for and that no ground existed to disturb the exclusion granted by the Adjudicating Authority. It also reiterated that liquidation is a last resort and that, before any sale of assets in liquidation, the liquidator must first attempt revival through a compromise or arrangement under Sections 230 to 232 of the Companies Act, 2013; only if that effort fails may sale of assets proceed, preferably as a going concern, under the insolvency framework. Case-Laws Insolvency and Bankruptcy Mon, 02 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308604