Deemed approved resolution plans under IBC now govern former SICA schemes; limited-time appeals allowed to NCLAT after publication. Schemes sanctioned or under implementation under section 18 of the Sick Industrial Companies (Special Provisions) Act, 1985 are deemed to be approved resolution plans under section 31(1) of the Insolvency and Bankruptcy Code, 2016 and shall be dealt with in accordance with Part II of the Code; where the statutory period for appeal under the repealed Act had not expired, an appeal against any such deemed approved resolution plan may be preferred to the National Company Law Appellate Tribunal within the period specified from publication of the Order.
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.
Deemed approved resolution plans under IBC now govern former SICA schemes; limited-time appeals allowed to NCLAT after publication.
Schemes sanctioned or under implementation under section 18 of the Sick Industrial Companies (Special Provisions) Act, 1985 are deemed to be approved resolution plans under section 31(1) of the Insolvency and Bankruptcy Code, 2016 and shall be dealt with in accordance with Part II of the Code; where the statutory period for appeal under the repealed Act had not expired, an appeal against any such deemed approved resolution plan may be preferred to the National Company Law Appellate Tribunal within the period specified from publication of the Order.
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