Liquidation of Corporate Debtor under IBC: Emphasizing Resolution to Maximize Asset Value, Scheme Submission per Section 230 of Companies Act.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Liquidation of Corporate Debtor - timeline prescribed in the liquidation proceedings or not - Since the objective of the IBC is to prefer resolution over liquidation and maximisation of the value of assets of the Corporate Debtor at any stage, it would be in fitness of the scheme of IBC to make all possible efforts to revive the Corporate Debtor. - The Liquidator is directed to place without further delay, the Scheme in accordance with Section 230 of the Companies Act, 2013 submitted by the Applicant, before the Creditors in compliance of the directions of the Hon'ble NCLAT - Tri....