https://www.taxtmi.com/caselaws?id=759078 NCLAT Principal Bench dismissed the appeal challenging the Adjudicating Authority's refusal to extend clean slate principle reliefs beyond the insolvency commencement date to the actual sale date. The appellant sought extinguishment of all claims and liabilities up to the e-auction sale date, but NCLAT held that under IBC Section 53 and IBBI Liquidation Regulations 2016, claims are determined as of liquidation commencement date, not sale date. The tribunal found no illegality in limiting reliefs to the cut-off date and upheld the lower authority's decision as consistent with statutory scheme. en-us Fri, 20 Sep 2024 00:00:00 +0530 Tue, 24 Sep 2024 09:05:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759078 NCLAT Principal Bench dismissed the appeal challenging the Adjudicating Authority's refusal to extend clean slate principle reliefs beyond the insolvency commencement date to the actual sale date. The appellant sought extinguishment of all claims and liabilities up to the e-auction sale date, but NCLAT held that under IBC Section 53 and IBBI Liquidation Regulations 2016, claims are determined as of liquidation commencement date, not sale date. The tribunal found no illegality in limiting reliefs to the cut-off date and upheld the lower authority's decision as consistent with statutory scheme. Case-Laws IBC Fri, 20 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759078