Liquidation Order Revocation Under Section 33(2) Not Possible Post Asset Transfer to Auction Buyer

P. Navcen Chakravarlhy Vs Ramakrishnan Sadasivam (NCLAT Chennai)

Revocation of liquidation order u/s. 33(2) not possible as property of Corporate Debtor handed over to Successful Auction Purchaser

NCLAT Chennai held that post completion of liquidation process and property of Corporate Debtor is handed over to Successful Auction Purchaser, order u/s. 33(2) of Insolvency and Bankruptcy Code, directing liquidation of corporate debtor’s cannot be revoked.

Facts- The Appellant vide the Comp

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