When the company is under liquidation, how the suspended management can seek direction from AA to allow him to run the company till it is not being sold as a going concern – Himanshu Prafulchandra Varia Vs. Sunil Kumar Agarwal Liquidator Of Varia Engieering Pvt. Ltd. & Ors. – NCLT Ahmedabad
When the liquidation process is in the verge of completion, the applicant (Suspended Management) filed the instant application with above prayers having no locus standi. It is quite unheard that how the suspended management can seek direction from this Adjudicating Authority to allow him to run the company till it is not being sold as a going concern, when the company is under liquidation. In fact, the suspended management has no locus standi to move such kind of application, when Corporate Debtor company is under the control of the liquidator. Moreover, there is no such statutory provision which allows the Corporate Debtor to run the company till it is sold as going concern. The application so filed by the applicant is not only bad in the eye of law but is blatant misuse of the process of law.
