https://www.taxtmi.com/caselaws?id=768599 The NCLAT Chennai dismissed an appeal challenging a liquidation order under Section 33(2) of the I&B Code. The liquidation process was complete with assets sold and handed over to purchasers. The liquidation order was based on the 9th Committee of Creditors meeting recommendation and the Resolution Professional's consent to act as liquidator. The court found the liquidation order valid and in accordance with law, noting that third-party interests had been created through confirmed asset sales, making any claims for indemnification over the assets ineffective. en-us Tue, 01 Apr 2025 00:00:00 +0530 Thu, 10 Apr 2025 08:32:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768599 The NCLAT Chennai dismissed an appeal challenging a liquidation order under Section 33(2) of the I&B Code. The liquidation process was complete with assets sold and handed over to purchasers. The liquidation order was based on the 9th Committee of Creditors meeting recommendation and the Resolution Professional's consent to act as liquidator. The court found the liquidation order valid and in accordance with law, noting that third-party interests had been created through confirmed asset sales, making any claims for indemnification over the assets ineffective. Case-Laws IBC Tue, 01 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768599