INSOLVENCY AND BANKRUPTCY CODE
- NCLAT- New Delhi in a recent judgment directed the liquidator to proceed with liquidation proceedings even where during liquidation, respondent failed to submit a final settlement proposal of its dues in respect of statutory creditor (GST Department) after multiple time extensions and filed an appeal before CESTAT in terms of its GST dues only to stagger and dispute claims of statutory creditors, since speed is essence of IBC and respondent’s actions were only to derail liquidation process.
