Liquidation Is Last Resort, Broader Public Interest In Resolving Corporate Insolvency Should Be Taken Into Account: NCLT Kolkata

The NCLT Kolkata ruled on a corporate insolvency case involving liquidation. The tribunal underscored that liquidation proceedings must align with public interest and ensure fair treatment of creditors and stakeholders. It highlighted that the liquidation process should not only focus on recovering dues but also consider the broader impact on employees, suppliers, and other affected parties. The decision reflects a balance between legal and ethical considerations, ensuring that corporate insolvency processes are conducted transparently and responsibly.