https://www.taxtmi.com/caselaws?id=352385 After repeal of the SICA regime and commencement of the Insolvency and Bankruptcy Code, the adjudicating authority has no express statutory power to review, extend, or modify an already sanctioned revival scheme. The earlier BIFR-approved scheme had expired, and the saved scheme could operate only within the limits of the new insolvency framework. The request to enlarge the period of the sanctioned scheme was therefore not maintainable and was rejected, with liquidation consequences following under the Insolvency and Bankruptcy Code, 2016. en-us Mon, 13 Nov 2017 00:00:00 +0530 Wed, 03 Jan 2018 11:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352385 After repeal of the SICA regime and commencement of the Insolvency and Bankruptcy Code, the adjudicating authority has no express statutory power to review, extend, or modify an already sanctioned revival scheme. The earlier BIFR-approved scheme had expired, and the saved scheme could operate only within the limits of the new insolvency framework. The request to enlarge the period of the sanctioned scheme was therefore not maintainable and was rejected, with liquidation consequences following under the Insolvency and Bankruptcy Code, 2016. Case-Laws Insolvency and Bankruptcy Mon, 13 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352385