https://www.taxtmi.com/caselaws?id=279820 A rehabilitation scheme sanctioned and under implementation under SICA may be carried forward under the Insolvency and Bankruptcy Code, 2016 and treated as an approved resolution plan where the statutory transition so permits. The order relies on the Removal of Difficulties Order, 2017 and the notified position that a scheme sanctioned under section 18(4) or under implementation under section 18(12) of SICA is deemed an approved resolution plan under section 31(1) of the Code. It also states that steps already taken under BIFR and AAIFR need not be discarded, and that a section 10 petition may proceed from the stage already reached under the earlier rehabilitation process. The petition was admitted and CIRP commenced. en-us Fri, 13 Oct 2017 00:00:00 +0530 Tue, 18 Apr 2023 13:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279820 A rehabilitation scheme sanctioned and under implementation under SICA may be carried forward under the Insolvency and Bankruptcy Code, 2016 and treated as an approved resolution plan where the statutory transition so permits. The order relies on the Removal of Difficulties Order, 2017 and the notified position that a scheme sanctioned under section 18(4) or under implementation under section 18(12) of SICA is deemed an approved resolution plan under section 31(1) of the Code. It also states that steps already taken under BIFR and AAIFR need not be discarded, and that a section 10 petition may proceed from the stage already reached under the earlier rehabilitation process. The petition was admitted and CIRP commenced. Case-Laws Insolvency and Bankruptcy Fri, 13 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279820