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Successful Bidder Not Entitled to Blanket Reliefs: NCLAT Dismisses Appeal
Case Law Details
- Case Name
- Shanti International Vs Ram Singh Setia (NCLAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- NCLAT
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Shanti International Vs Ram Singh Setia (NCLAT Delhi)
The appeal was filed by a successful bidder challenging an order of the Adjudicating Authority (NCLT Mumbai) which had partly allowed and partly rejected reliefs and concessions sought in relation to the acquisition of a corporate debtor during liquidation. The appellant had sought multiple directions to facilitate transfer of ownership and smooth functioning of the corporate debtor as a going concern.
The corporate insolvency resolution process (CIRP) had commenced against the corporate debtor, followed by an order for liq...
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