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Secured creditor granted permission by NCLT to stay out of liquidation process subject to certain conditions

April 24, 2019[2019] 104 408 (NCLT - Mum.)

IBC : Where miscellaneous application had been preferred under section 60(5)(c ) by Liquidator seeking directions to SBI, financial creditor, if it wanted to opt out of liquidation, it was held that application was partly allowed by granting permission to secured creditors to opt out of liquidation process, however, a bar was imposed on secured creditors to sell assets of corporate debtor to disqualified persons under section 29A

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