https://www.taxtmi.com/caselaws?id=751383 The NCLAT Principal Bench dismissed an appeal where the appellant sought interest on sale consideration deposited during asset acquisition. The appellant purchased assets from a corporate debtor through liquidation proceedings, with sale consideration deposited with the liquidator. Despite delays in asset handover due to a restraint order from April 2022 to June 2023, the tribunal held that since assets were ultimately transferred to the appellant, no interest refund was warranted. The deposited amount with earned interest was consideration for assets received, not grounds for additional compensation despite procedural delays. en-us Mon, 15 Apr 2024 00:00:00 +0530 Tue, 16 Apr 2024 06:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751383 The NCLAT Principal Bench dismissed an appeal where the appellant sought interest on sale consideration deposited during asset acquisition. The appellant purchased assets from a corporate debtor through liquidation proceedings, with sale consideration deposited with the liquidator. Despite delays in asset handover due to a restraint order from April 2022 to June 2023, the tribunal held that since assets were ultimately transferred to the appellant, no interest refund was warranted. The deposited amount with earned interest was consideration for assets received, not grounds for additional compensation despite procedural delays. Case-Laws Insolvency and Bankruptcy Mon, 15 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751383