https://www.taxtmi.com/caselaws?id=783344 NCLAT partly allowed the appeal, setting aside the HC's exoneration of Respondent No.1 (Successful Auction Purchaser) from liability to pay interest on delayed balance sale consideration. It held that Schedule I Rule 12 of the Liquidation Process Regulations is mandatory, requiring payment of balance sale consideration within 30 days or, if paid thereafter (but within 90 days), with 12% interest. Since Respondent No.1 failed to pay the balance within 30 days from the Sale Confirmation Advice, it is liable to pay 12% interest on the unpaid amount from expiry of the 30-day period until the date the Adjudicating Authority extended time (15.06.2023). The appeal was allowed to this limited extent, directing payment of interest within two weeks. en-us Mon, 08 Dec 2025 00:00:00 +0530 Mon, 15 Dec 2025 08:39:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783344 NCLAT partly allowed the appeal, setting aside the HC's exoneration of Respondent No.1 (Successful Auction Purchaser) from liability to pay interest on delayed balance sale consideration. It held that Schedule I Rule 12 of the Liquidation Process Regulations is mandatory, requiring payment of balance sale consideration within 30 days or, if paid thereafter (but within 90 days), with 12% interest. Since Respondent No.1 failed to pay the balance within 30 days from the Sale Confirmation Advice, it is liable to pay 12% interest on the unpaid amount from expiry of the 30-day period until the date the Adjudicating Authority extended time (15.06.2023). The appeal was allowed to this limited extent, directing payment of interest within two weeks. Case-Laws IBC Mon, 08 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783344