Power to notify financial service providers for insolvency allows modified insolvency and liquidation proceedings under prescribed rules. Central Government may, in consultation with appropriate financial sector regulators, notify financial service providers or categories thereof for the purpose of conducting their insolvency and liquidation proceedings under the Code, and such proceedings may be conducted with prescribed modifications and in the prescribed manner notwithstanding anything contrary in the Code or any other law.
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.
Power to notify financial service providers for insolvency allows modified insolvency and liquidation proceedings under prescribed rules.
Central Government may, in consultation with appropriate financial sector regulators, notify financial service providers or categories thereof for the purpose of conducting their insolvency and liquidation proceedings under the Code, and such proceedings may be conducted with prescribed modifications and in the prescribed manner notwithstanding anything contrary in the Code or any other law.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
