Liquidator is Accountable to Explain Delay in Liquidation Process: NCLT

The NCLT observed that the Liquidation is a time-bound process and the Liquidator being made accountable is required to explain if there is any delay caused in the liquidation process.
Liquidator - accountable to Explain Delay - Liquidation Process - NCLT - TAXSCAN

The Chennai bench of the National Company Law Tribunal (NCLT) has held that the liquidator is accountable for explaining the delay in the liquidation process. It was observed that the Liquidation is a time-bound process and the Liquidator being made accountable is required to explain if there is any delay caused in the liquidation process….

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