Tag: Scheme of Compromise
March 24, 2021
Corporate Law | General Corporate Advisory
Corporate Law | General Corporate Advisory
INTERPLAY BETWEEN LIQUIDATION PROCEEDINGS UNDER IBC AND...
Recently, the Supreme Court in the decision of Arun Kumar Jagatramka v. Jindal Steel and Power Ltd. & Anr (“Arun Kumar Decision”) examined the interplay between liquidation proceedings under the Insolvency and Bankruptcy Code, 2016 (“IBC”) and Section 230 of the Companies Act, 2013 (“Act”). The issue before the Supreme Court was to decide whether a person ineligible to submit resolution plan under Section 29A of the IBC is barred from proposing a scheme under Section 230 of the Act. ......