IBC| Timeline To Pay Balance Sale Consideration By Auction Purchaser In Liquidation Proceedings Mandatory : Supreme Court

The Supreme Court has ruled that the timeline for paying the balance sale consideration by an auction purchaser in liquidation proceedings under the Insolvency and Bankruptcy Code (IBC) is mandatory. This decision enforces the strict adherence to timelines for payment, ensuring that the liquidation process remains efficient and transparent. By upholding the mandatory nature of these timelines, the Court aims to protect the interests of creditors and maintain the integrity of the liquidation process.