Kerala HC Allowed Revival of Liquidated Subsidiaries Due to State-Backed Asset Reuse Plan

Kerala State Electronics Development Corporation Limited Vs Keltron Power Devices Limited (Kerala High Court) The Kerala High Court considered two company applications filed by Kerala State Electronics Development Corporation Limited seeking recall of earlier winding-up orders passed in respect of two of its wholly owned subsidiaries that were under liquidation. In both matters, the winding-up orders had been passed earlier based on the opinion of the Board of Industrial and Financial Reconstruction (BIFR), which had concluded that liquidation was appropriate. The applications sought recall of...