IBC Liquidations: The Regulatory Vacuum

Liquidation of IVRCL, Gujarat NRE Coke, Sterling Biotech, Pratibha Industries is facing legal bumps. Why are regulators silent?

<div class="paragraphs"><p>A padlock secures premises. (Photographer: Simon Dawson/Bloomberg)</p></div>
A padlock secures premises. (Photographer: Simon Dawson/Bloomberg)
IVRCL Ltd., Gujarat NRE Coke Ltd., Sterling Biotech Ltd., Pratibha Industries Ltd. have a common problem: they are all being liquidated as going concerns... in a regulatory vacuum.All they have to go by is reliefs and concessions given or denied by courts in past cases such as Southern Online Biotechnologies Ltd., KSK Energy Ventures Ltd., PSL Ltd., Mohan Gems & Jewels Pvt. Ltd. and Topworth Pipes & Tubes Pvt. Ltd.Liquidation as a go...
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