https://www.taxtmi.com/caselaws?id=765671 NCLAT dismissed appeal challenging liquidator's decision to sell corporate debtor through private sale using Swiss Challenge Mechanism. Court held that anchor bidder has no vested right to insist process completion, citing SC precedent in R.K. Industries. Liquidator properly exercised authority under IBC and 2016 Regulations by adopting Swiss Challenge method and granting Right of First Refusal to OASPL. Stakeholder Consultation Committee endorsed the decision after detailed discussion. NCLAT found Swiss Challenge Mechanism valid, transparent, and consistent with natural justice principles, ruling liquidator acted within statutory jurisdiction. en-us Tue, 04 Feb 2025 00:00:00 +0530 Fri, 07 Feb 2025 08:38:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765671 NCLAT dismissed appeal challenging liquidator's decision to sell corporate debtor through private sale using Swiss Challenge Mechanism. Court held that anchor bidder has no vested right to insist process completion, citing SC precedent in R.K. Industries. Liquidator properly exercised authority under IBC and 2016 Regulations by adopting Swiss Challenge method and granting Right of First Refusal to OASPL. Stakeholder Consultation Committee endorsed the decision after detailed discussion. NCLAT found Swiss Challenge Mechanism valid, transparent, and consistent with natural justice principles, ruling liquidator acted within statutory jurisdiction. Case-Laws IBC Tue, 04 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765671