https://www.taxtmi.com/caselaws?id=469403 A liquidator is not entitled to discharge merely because the corporate debtor has been sold as a going concern where liquidation issues remain unresolved. Here, the NCLT found incomplete statutory filings, inconsistent disclosures, unresolved receivables, bank guarantees, retention money, pending litigations, project status concerns, and no complete final account of realisations and disbursements. The liquidator's duties were held to continue until a transparent liquidation compliant with the Insolvency and Bankruptcy Code and Liquidation Process Regulations was fully concluded. Discharge was therefore refused at this stage, and a detailed compliance affidavit was directed, with reference made to the insolvency regulator for action. en-us Tue, 27 May 2025 00:00:00 +0530 Tue, 16 Jun 2026 21:37:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469403 A liquidator is not entitled to discharge merely because the corporate debtor has been sold as a going concern where liquidation issues remain unresolved. Here, the NCLT found incomplete statutory filings, inconsistent disclosures, unresolved receivables, bank guarantees, retention money, pending litigations, project status concerns, and no complete final account of realisations and disbursements. The liquidator's duties were held to continue until a transparent liquidation compliant with the Insolvency and Bankruptcy Code and Liquidation Process Regulations was fully concluded. Discharge was therefore refused at this stage, and a detailed compliance affidavit was directed, with reference made to the insolvency regulator for action. Case-Laws IBC Tue, 27 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469403