Period of 90 days under Regulation 32A of IBBI (Liquidation Process) Regulations Directory is not Mandatory: NCLT [Read Order]

By Taxscan Team - On February 21, 2022 6:03 pm - 2 mins read

Period - 90 Days - Regulation 32A - IBBI - IBBI (Liquidation Process) Regulations Directory - NCLT - Taxscan

The Hyderabad National Company Law Tribunal (NCLT) has held that a period of 90 Days Under Regulation 32A Of IBBI (Liquidation Process) Regulations Directory is not mandatory. As regards the reserve price, it may be stated that in terms of Clause 4 Schedule-I of IBBI Liquidation Process Regulations, 2016, the Liquidator is entitled to reduce…

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