NCLAT, Creditors must adhere to sections 52 & 53 of IBC for debt recovery: Case of Anil Kohli Liquidator of Vegan Colloids Limited vs Punjab National Bank, NCLAT Delhi Judgement Dated 2nd April 2025. The appellate tribunal held that all assets listed in the Corporate Debtor’s balance sheet are included in the Liquidation Estate under section 36 of IBC. Further, upon liquidation, dues must be distributed strictly according to the waterfall mechanism outlined in Section 53 of the Code. (NCLAT Delhi Judgement Dated 02/04/2025)