https://www.taxtmi.com/caselaws?id=361523 A removal-of-difficulties power under the Insolvency and Bankruptcy Code cannot be used to alter the Code's substantive scheme, create appellate jurisdiction, or extend the statutory appeal period beyond the limit fixed by the Code. The text also notes that a demerger scheme, even if treated as a resolution plan, must comply with the statutory approval process and must not contravene applicable law. On that basis, the scheme was described as illegal, but it was not disturbed because the appeals were treated as barred by limitation and otherwise not maintainable. en-us Mon, 28 May 2018 00:00:00 +0530 Fri, 08 Jun 2018 08:25:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361523 A removal-of-difficulties power under the Insolvency and Bankruptcy Code cannot be used to alter the Code's substantive scheme, create appellate jurisdiction, or extend the statutory appeal period beyond the limit fixed by the Code. The text also notes that a demerger scheme, even if treated as a resolution plan, must comply with the statutory approval process and must not contravene applicable law. On that basis, the scheme was described as illegal, but it was not disturbed because the appeals were treated as barred by limitation and otherwise not maintainable. Case-Laws Insolvency and Bankruptcy Mon, 28 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361523