Liquidator empowered to proceed with private sale of Corporate Debtor by Swiss Challenge Mechanism

Power Mech Projects Ltd. Vs Essar Power (Jharkhand) Ltd. (NCLAT Delhi) NCLAT Delhi held that Liquidator is jurisdictionally empowered to proceed with private sale of Corporate Debtor by adopting Swiss Challenge Mechanism. Thus, adjudicating authority didn’t commit any error in allowing application filed by Liquidator. Facts- This Appeal has been filed challenging the order dated 11.12.2024 passed by National Company Law Tribunal, Principal Bench allowing appeal filed by the Liquidator seeking permission of the Adjudicating Authority, to sell the Corporate Debtor (“CD”) as a going concern...