NCLT Permits Punj Lloyd Liquidator to Disclaim Oman Assets

NCLT allows Punj Lloyd Ltd liquidator to disclaim onerous movable assets located in Oman under IBC liquidation regulations.
Oman assets valued at OMR 420,000 face legacy dues of OMR 359,423 and fraudulent commercial registration risks.
Liquidator cited mounting liabilities, administrative burden, and lack of physical possession or legal control over assets.
Tribunal directed liquidator to ensure compliance with all applicable RBI regulations and other laws in relevant jurisdictions.