https://www.taxtmi.com/caselaws?id=377503 Where a sick company had already pursued rehabilitation under the repealed SICA regime, the tribunal treated the earlier BIFR process as relevant to insolvency proceedings and did not require a fresh revival exercise. It held that a modified draft rehabilitation scheme, substantially implemented and acted upon by creditors, could be recognised as a resolution plan within the Insolvency and Bankruptcy Code framework. On that basis, the section 10 petition was admitted, corporate insolvency resolution process was commenced, and moratorium followed, with appointment of an interim resolution professional. en-us Fri, 15 Mar 2019 00:00:00 +0530 Sat, 30 Mar 2019 08:24:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377503 Where a sick company had already pursued rehabilitation under the repealed SICA regime, the tribunal treated the earlier BIFR process as relevant to insolvency proceedings and did not require a fresh revival exercise. It held that a modified draft rehabilitation scheme, substantially implemented and acted upon by creditors, could be recognised as a resolution plan within the Insolvency and Bankruptcy Code framework. On that basis, the section 10 petition was admitted, corporate insolvency resolution process was commenced, and moratorium followed, with appointment of an interim resolution professional. Case-Laws Insolvency and Bankruptcy Fri, 15 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377503