https://www.taxtmi.com/caselaws?id=352837 A transitional classification under the Sick Industrial Companies (Special Provisions) Repeal Act, 2003 was upheld because sanctioned rehabilitation schemes were treated differently from pending draft schemes on the basis of a real and substantial distinction, and the distinction furthered the shift to the time-bound insolvency regime under the Insolvency and Bankruptcy Code, 2016. The Removal of Difficulties Order, 2017 was also sustained as a clarificatory and remedial measure issued within the statutory framework, rather than an impermissible enlargement of power. The notified cut-off date for abatement of pending proceedings was held lawful because it operated as a rational demarcation for implementation of the new regime and was not arbitrary or discriminatory. en-us Wed, 01 Nov 2017 00:00:00 +0530 Wed, 03 Jan 2018 11:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352837 A transitional classification under the Sick Industrial Companies (Special Provisions) Repeal Act, 2003 was upheld because sanctioned rehabilitation schemes were treated differently from pending draft schemes on the basis of a real and substantial distinction, and the distinction furthered the shift to the time-bound insolvency regime under the Insolvency and Bankruptcy Code, 2016. The Removal of Difficulties Order, 2017 was also sustained as a clarificatory and remedial measure issued within the statutory framework, rather than an impermissible enlargement of power. The notified cut-off date for abatement of pending proceedings was held lawful because it operated as a rational demarcation for implementation of the new regime and was not arbitrary or discriminatory. Case-Laws Insolvency and Bankruptcy Wed, 01 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352837