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of <h1>Transition from Sick Industrial Companies Act to Insolvency Code: Resolution Plans Now Deemed Approved, Appeals Permitted.</h1> The Insolvency and Bankruptcy Code (Removal of Difficulties) Order, 2017 addresses issues arising from the repeal of the Sick Industrial Companies (Special Provisions) Act, 1985 and the transition to the Insolvency and Bankruptcy Code, 2016. The order amends the Eighth Schedule of the 2016 Code to clarify that any scheme sanctioned or under implementation under the 1985 Act is deemed an approved resolution plan under the 2016 Code. It allows appeals against such plans to be made to the National Company Law Appellate Tribunal within ninety days if the statutory period had not expired by the notification date.
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