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/-. The Applicant was declared as the Successful Bidder of the Corporate Debtor as a going concern with a bid amount of Rs. 4,65,00,000/- and was accordingly issu...