IBC: Commercial or business decision taken by the Liquidator for conducting the sale of the assets of the Corporate Debtor are not subject to judicial review

It is not for the court to question the judiciousness of the decision taken by the Liquidator with the idea of enhancing the value of the assets of the Corporate Debtor being put up for sale. The right to refuse the highest bid or completely abandon or cancel the bidding process was available to the Liquidator unless it is shown that process was a malafide exercise

Category: Insolvency and Bankruptcy Code 2016   Posted on: September 11, 2022