Revocation of liquidation process enabling the Corporate Debtor ...

Tribunal dismisses frivolous appeal, bars Appellant from contesting final order revoking Corporate Debtor's liquidation for revival.

August 5, 2022

Case Laws     Insolvency and Bankruptcy     AT

Revocation of liquidation process enabling the Corporate Debtor to revive and reconstruct by implementing the scheme sanctioned - The order of the Adjudicating Authority dated 10.01.2020 to which the Appellant is a party has not challenged the said order dated 10.01.2020 and the same has attained finality. Therefore, the Appellant is estopped from challenging the said order in this Appeal. The filing of the present Appeal is an abuse of process of law and wasting the precious time of this Tribunal - this Tribunal comes to an irresistible and inescapable conclusion that the Appeal is frivolous and vexatious and the same is liable to be dismissed. - AT

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