Successful Auction Purchaser entitled for certain reliefs to run corporate debtor as going concern

Punjab National Bank (International Limited) Vs Perfect Day INC. (NCLAT Delhi)

NCLAT Delhi held that the Successful Auction Purchaser is entitled to receive certain reliefs and concessions to run the Corporate Debtor as going concern.

Facts- On an Application filed by Andhra Bank u/s. 7 of the Insolvency and Bankruptcy Code, 2016 (IBC), the Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor by order dated 11/06/2018.

Please become a Premium member. If you are already a Premium member, login here to access the full content.