[IBC proceedings] "Decision taken by Liquidator in the best interests of the company should be left at that:" NCLT, Kolkata

"The liquidator is responsible for the affairs of the company in liquidation and if the decision is taken by him in the best interests of the company, then the matter should be left at that", the Tribunal ruled.
NCLT- Image for representational purposes
NCLT- Image for representational purposes

The National Company Law Tribunal (NCLT), Kolkata recently emphasised that decisions taken in good faith by liquidators engaged to manage the affairs of companies undergoing liquidation proceedings under the Insolvency and Bankruptcy Code (IBC), are protected (Basavaraj Koujalagi & 82 others v. Sumit Binani, liquidator of Gujarat NRE Coke Limited).

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