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Informative

Land Sold by Third Parties to Corporate Debtor Cannot be Held Liable u/s 66 of IBC: NCLT

Update / Judgement Date

02 Apr 2025

Source

Taxscan

Author

Team — WCP Legal Desk

Reading Time

1 min read

Insolvency & Bankruptcy Code

NCLT ruled that land sold by third parties to a corporate debtor cannot be held liable under Section 66 of IBC. This decision clarifies the scope of liability in insolvency proceedings. The ruling protects third-party transactions from being unfairly implicated. NCLT’s ruling protects third parties. This decision is important for legal proceedings. This judgement protects land sales.