https://www.taxtmi.com/caselaws?id=767195 The NCLAT Chennai dismissed an appeal challenging auction proceedings in a corporate liquidation case. The appellant sought condonation of 224 days delay in filing appeal and stay of auction order, while proposing a scheme under Section 230 of Companies Act, 2013. The tribunal found no procedural flaws in the liquidation process, noting the scheme was filed belatedly after stakeholders committee rejection. Since valuation was conducted per IBC provisions and sale certificate was issued on 17.07.2023, the auction attained finality. The tribunal held that completed auction proceedings with issued sale certificates cannot be revisited based on belated procedural challenges. en-us Mon, 10 Mar 2025 00:00:00 +0530 Wed, 12 Mar 2025 09:06:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767195 The NCLAT Chennai dismissed an appeal challenging auction proceedings in a corporate liquidation case. The appellant sought condonation of 224 days delay in filing appeal and stay of auction order, while proposing a scheme under Section 230 of Companies Act, 2013. The tribunal found no procedural flaws in the liquidation process, noting the scheme was filed belatedly after stakeholders committee rejection. Since valuation was conducted per IBC provisions and sale certificate was issued on 17.07.2023, the auction attained finality. The tribunal held that completed auction proceedings with issued sale certificates cannot be revisited based on belated procedural challenges. Case-Laws IBC Mon, 10 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767195