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Court Grants Relief to Small Suppliers in Financial Strain, Orders Asset Distribution as per Section 53 of Insolvency Code.

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....Cost of CIRP / Liquidation - Liability of operational creditors - Appellants are small suppliers and they don’t want to be burdened with additional liability as their business is in a very bad shape and they have lost already a crore plus. - Prayer accepted - Let Liquidation be continued and let amount be realized during Liquidation and be distributed in accordance with section 53 of the Code. - AT....

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