https://www.taxtmi.com/caselaws?id=761746 A scheme of compromise or arrangement under Section 230 of the Companies Act, 2013 was held to operate only as an enabling step within liquidation and not as a superior route overriding a sale of the corporate debtor as a going concern under the liquidation regulations. Regulation 2B was treated as permitting a limited compromise opportunity, while Regulations 32(e) and 32A remained the primary mechanism for preservation and realisation through going-concern sale. The competing scheme was also found belated and previously rejected in liquidation. Alleged irregularities in the e-auction and sale confirmation were treated as minor, causing no substantial prejudice, so the sale and confirmation were sustained. en-us Thu, 14 Nov 2024 00:00:00 +0530 Thu, 14 Nov 2024 15:32:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761746 A scheme of compromise or arrangement under Section 230 of the Companies Act, 2013 was held to operate only as an enabling step within liquidation and not as a superior route overriding a sale of the corporate debtor as a going concern under the liquidation regulations. Regulation 2B was treated as permitting a limited compromise opportunity, while Regulations 32(e) and 32A remained the primary mechanism for preservation and realisation through going-concern sale. The competing scheme was also found belated and previously rejected in liquidation. Alleged irregularities in the e-auction and sale confirmation were treated as minor, causing no substantial prejudice, so the sale and confirmation were sustained. Case-Laws IBC Thu, 14 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761746