Advocate Sushila
SUPREME COURT HOLDS PROMOTER INELIGIBLE TO PROPOSE COMPROMISE OR ARRANGEMENT DURING LIQUIDATION OF COMPANY
Advocate Sushila Ram 19 Mar 2021

SUPREME COURT HOLDS PROMOTER INELIGIBLE TO PROPOSE COMPROMISE OR ARRANGEMENT DURING LIQUIDATION OF COMPANY

The #SupremeCourt has in a recent case of Arun Kumar Jagatramka vs Jindal Steel and Power Ltd. & Anr. passed a Judgment dated 15-03-2021 and decided upon the issue whether a person who is #ineligible to submit a #resolutionplan under Section 29A of the #InsolvencyandBankruptcy Code 2016 (the Code) is also barred from proposing a scheme of #compromise and #arrangement under Section 230 of the #CompaniesAct 2013.


To read more, please visit the link below:


https://theindianlawyer.in/supreme-court-holds-promoter-ineligible-to-propose-compromise-or-arrangement-during-liquidation-of-company/


#supremecourt #promoter #compromise #arrangement #insolvencyandbankruptcy #companiesact

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