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of <h1>Section 263 on Sick Company Rehabilitation Removed by Insolvency and Bankruptcy Code 2016, Affecting Revival Schemes and Stakeholders</h1> Section 263 of the Companies Act, 2013, which addressed the revival and rehabilitation of sick companies, has been omitted by the Insolvency and Bankruptcy Code, 2016. Previously, this section stipulated that any sanctioned scheme for the revival of a sick company would be binding on the sick company, the transferee company, and their employees, shareholders, creditors, and guarantors.
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