NCLAT allows Liquidator to hand over records, control etc. to Liberty House Group

Liberty House Group Pte. Ltd. Vs State Bank of India & Ors. (NCLAT Delhi) Mr. Virendra Ganda, learned Senior Counsel for the Appellant(s) submits that the amount in terms of the earlier order dated 21st January, 2020 has been paid. Mr. Joy Saha, learned Senior Counsel appearing on behalf of ‘Committee of Creditors’ has also accepted the same. In view of the development, the order of ‘Liquidation’ is stayed and the ‘Liquidator’ will function as ‘Resolution Professional’. The only question, which is required to be determined, is about the ‘corporate insolvency resolution pr...