https://www.taxtmi.com/caselaws?id=773162 NCLAT set aside NCLT's approval of private sale of corporate debtor's assets to related party at undervalued rates. Court found liquidator violated mandatory Regulation 33 of IBBI Liquidation Regulations by conducting private sale without prior permission and proper justification. Sale at Rs 58.59 crores was grossly undervalued against Rs 68.01 crores valuation. NCLAT directed appointment of new liquidator within 15 days to restart liquidation process through proper auction procedures, emphasizing transparency and maximization of recovery in liquidation proceedings. en-us Fri, 30 May 2025 00:00:00 +0530 Wed, 18 Jun 2025 17:40:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773162 NCLAT set aside NCLT's approval of private sale of corporate debtor's assets to related party at undervalued rates. Court found liquidator violated mandatory Regulation 33 of IBBI Liquidation Regulations by conducting private sale without prior permission and proper justification. Sale at Rs 58.59 crores was grossly undervalued against Rs 68.01 crores valuation. NCLAT directed appointment of new liquidator within 15 days to restart liquidation process through proper auction procedures, emphasizing transparency and maximization of recovery in liquidation proceedings. Case-Laws IBC Fri, 30 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773162