https://www.taxtmi.com/caselaws?id=457935 The Tribunal directed the lifting of attachments on the Corporate Debtor's bank accounts, allowing the Liquidator to proceed with asset liquidation. The Tribunal emphasized compliance with Section 53 of the I&B Code for debt distribution among stakeholders. Cooperation from the Revenue Department and banks was mandated to facilitate the liquidation process, ensuring debts are satisfied proportionately. The Liquidator's application was allowed, resulting in a favorable outcome for the Applicant, with the Tribunal providing clear directives for property sale and proceeds distribution. en-us Wed, 11 Dec 2019 00:00:00 +0530 Mon, 30 Sep 2024 20:24:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457935 The Tribunal directed the lifting of attachments on the Corporate Debtor's bank accounts, allowing the Liquidator to proceed with asset liquidation. The Tribunal emphasized compliance with Section 53 of the I&B Code for debt distribution among stakeholders. Cooperation from the Revenue Department and banks was mandated to facilitate the liquidation process, ensuring debts are satisfied proportionately. The Liquidator's application was allowed, resulting in a favorable outcome for the Applicant, with the Tribunal providing clear directives for property sale and proceeds distribution. Case-Laws Companies Law Wed, 11 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457935