Forfeiture ordered by the NCLT for failure to comply with extended payment timelines in liquidation sales is valid and not governed by contractual penalty principles
M/s Shri Karshni Alloys Private Limited v. Ramakrishnan Sadasivan (2025 INSC 1411)
Supreme Court upholds forfeiture ordered by the NCLT for failure to comply with extended payment timelines in liquidation sales, holding that such forfeiture is not governed by contract law principles.