Sale of Corporate Debtor, as a Going Concern’, covers both assets & liabilities

Harsh Vinimay Pvt Ltd Vs Maa Mahamaya Steels Pvt Ltd (NCLT Mumbai)

Sale of Corporate Debtor as a ‘Going Concern ‘as is where is’ basis under Regulation 32 A of the IBBI (Liquidation Process) Regulations, 2016 and the Code means sale of assets as well as liabilities and not assets sans liabilities.

Facts-

E-auction, of the assets of the Corporate Debtor, was scheduled on 03.03.2021. The Applicant submitted an EDM of Rs. 50,00,000/-.

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