https://www.taxtmi.com/caselaws?id=781881 The appellate tribunal allowed the appeal, holding that the Adjudicating Authority exceeded its jurisdiction by unilaterally modifying the successful auction purchaser's proposed restructuring of the corporate debtor's share capital/shareholding. It found that the corporate debtor was sold as a going concern on an "as is where is" basis, and, consistent with the clean slate principle under the IBC, the purchaser is entitled to determine the capital structure, absent any legal violation. As neither the SCC nor the liquidator objected to the proposed restructuring, the Adjudicating Authority could not supplant the purchaser's commercial wisdom. The matter was remanded to reconsider the appellant's prayer in accordance with law. en-us Thu, 20 Nov 2025 00:00:00 +0530 Sat, 22 Nov 2025 07:36:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781881 The appellate tribunal allowed the appeal, holding that the Adjudicating Authority exceeded its jurisdiction by unilaterally modifying the successful auction purchaser's proposed restructuring of the corporate debtor's share capital/shareholding. It found that the corporate debtor was sold as a going concern on an "as is where is" basis, and, consistent with the clean slate principle under the IBC, the purchaser is entitled to determine the capital structure, absent any legal violation. As neither the SCC nor the liquidator objected to the proposed restructuring, the Adjudicating Authority could not supplant the purchaser's commercial wisdom. The matter was remanded to reconsider the appellant's prayer in accordance with law. Case-Laws IBC Thu, 20 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781881