Directors lose appeal rights after liquidation begins without proper liquidator verification under Form 36

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....ITAT dismissed appeals filed by directors of a company undergoing liquidation for lack of locus standi and improper verification. Following NCLT's initiation of Corporate Insolvency Resolution Process and appointment of liquidator, directors lost authority to pursue appeals on behalf of the company. Although liquidator issued Letter of Authority to counsel, proper Form 36 duly signed and verified by liquidator was not filed despite liquidation proceedings continuing for five years. Appeals were held not maintainable due to improper verification and failure to substitute required documentation. ITAT granted liquidator liberty to file fresh Form 36 with condonation petition if continuation of proceedings desired, subject to coordinate Bench's discretion regarding recall of dismissal order.....