Amendment to section 33 clarifies that approvals include resolutions under the insolvency plan mechanism and related subsection. The amendment adds wording in section 33(3) so that approvals "approved by the Adjudicating Authority" explicitly include approvals under the resolution ... Summary
Amendment to section 33 clarifies that approvals include resolutions under the insolvency plan mechanism and related subsection.
The amendment adds wording in section 33(3) so that approvals "approved by the Adjudicating Authority" explicitly include approvals under the resolution plan provision and the designated insolvency-related subsection, thereby clarifying that such approvals fall within the provision's existing approval framework.
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