Business Standard

Confusion over shareholders' approval for resolution plan under IBC

Need for alignment of the Code with the existing laws, say experts

illustration by binay sinha
Premium

illustration by binay sinha

Sudipto Dey New Delhi
Legal fraternity and insolvency professionals appear divided over whether shareholders' approval under Companies Act, 2013 and the SEBI regulations would be necessary to pass certain resolution plans under Insolvency and Bankruptcy Code (IBC).  

Various stakeholders in the insolvency resolution process are apprehensive of the interplay between the Code and some provisions of company law and the Sebi regulations. Many feel, unless there is alignment of the Code with the existing laws, this may give the promoters of companies going through insolvency resolution more say in the turn round process, including blocking any part of the resolution plan. This may

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Aug 31 2017 | 12:51 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com