Application procedure for insolvency applications; sets forms, fees and restrictions on promoters' rights and manner before adjudicating authority. Amendment adds rule making powers to section 239(2) to prescribe the form, particulars, manner and fee for applications before the Adjudicating Authority under section 54C(2), and to prescribe conditions and restrictions on how promoters, members, personnel and partners of the corporate debtor exercise and discharge contractual or statutory rights and obligations under clause (c) of section 54H.
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Provisions expressly mentioned in the judgment/order text.
Application procedure for insolvency applications; sets forms, fees and restrictions on promoters' rights and manner before adjudicating authority.
Amendment adds rule making powers to section 239(2) to prescribe the form, particulars, manner and fee for applications before the Adjudicating Authority under section 54C(2), and to prescribe conditions and restrictions on how promoters, members, personnel and partners of the corporate debtor exercise and discharge contractual or statutory rights and obligations under clause (c) of section 54H.
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