https://www.taxtmi.com/caselaws?id=800634 Liquidation by sale of a corporate debtor as a going concern commences on the liquidation commencement date where the liquidation order adopts the creditors' recommendation and directs that mode of sale. Issuance of an auction notice or finalisation of an asset sale process document is not a statutory trigger for commencement. A subsequent regulatory omission of going-concern-sale provisions operates prospectively and does not displace rights and obligations crystallised under the earlier framework. Consultation, valuation, reserve pricing, marketing and auction preparation form a continuing sale process; the prescribed period for endeavouring the sale is directory and may be extended. en-us Wed, 07 Oct 2026 00:00:00 +0530 Fri, 09 Oct 2026 08:30:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800634 Liquidation by sale of a corporate debtor as a going concern commences on the liquidation commencement date where the liquidation order adopts the creditors' recommendation and directs that mode of sale. Issuance of an auction notice or finalisation of an asset sale process document is not a statutory trigger for commencement. A subsequent regulatory omission of going-concern-sale provisions operates prospectively and does not displace rights and obligations crystallised under the earlier framework. Consultation, valuation, reserve pricing, marketing and auction preparation form a continuing sale process; the prescribed period for endeavouring the sale is directory and may be extended. Case-Laws IBC Wed, 07 Oct 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800634