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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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