Liquidation value of assets can be higher than the bid under the corporate insolvency resolution process
Last updated: 22 February 2022
Court :
Supreme Court of India
Brief :
The Adjudicating Authority, the National Company Law Tribunal, Hyderabad Bench (NCLT), on January 21, 2019 approved MSL's resolution plan, which among other things involved an upfront payment of Rs 477 crores. While approving the resolution plan, the NCLT said that it met all the requirements of Section 30(2) of the Code which primarily deals with payment to creditors.
Citation :
Maharasthra Seamless Ltd. v. Padmanabhan Venkatesh [2020] 113
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FCS Deepak Pratap Singh
Published in Corporate Law
Views : 559
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