Revival and rehabilitation applications by company or secured creditors face preclusion if secured creditors pursue securitisation recovery. Either the company or any secured creditor may apply to the Tribunal for measures for the revival and rehabilitation of a company determined as a sick company; applications abate or are precluded where secured creditors holding three-fourths in value have pursued recovery under the securitisation law, and consent of a securitisation or reconstruction company is required if it has acquired the company's financial assets.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Revival and rehabilitation applications by company or secured creditors face preclusion if secured creditors pursue securitisation recovery.
Either the company or any secured creditor may apply to the Tribunal for measures for the revival and rehabilitation of a company determined as a sick company; applications abate or are precluded where secured creditors holding three-fourths in value have pursued recovery under the securitisation law, and consent of a securitisation or reconstruction company is required if it has acquired the company's financial assets.
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