https://www.taxtmi.com/caselaws?id=386817 Section 16G(1)(c) of the Tea Act was treated as inapplicable where the tea undertaking had not actually been taken over by an authorised person or body and the corporate debtor remained in management and control under the interim arrangement; initiation of Section 9 insolvency proceedings was therefore not barred. The Insolvency and Bankruptcy Code was further described as a complete code for time-bound corporate revival, distinct from winding up, so prior Central Government consent was not required for proceedings under Sections 7 or 9. On any inconsistency, the Code prevailed over the earlier Tea Act by virtue of its overriding provision, and the insolvency petition was held maintainable. en-us Fri, 04 Oct 2019 00:00:00 +0530 Wed, 16 Jul 2025 12:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386817 Section 16G(1)(c) of the Tea Act was treated as inapplicable where the tea undertaking had not actually been taken over by an authorised person or body and the corporate debtor remained in management and control under the interim arrangement; initiation of Section 9 insolvency proceedings was therefore not barred. The Insolvency and Bankruptcy Code was further described as a complete code for time-bound corporate revival, distinct from winding up, so prior Central Government consent was not required for proceedings under Sections 7 or 9. On any inconsistency, the Code prevailed over the earlier Tea Act by virtue of its overriding provision, and the insolvency petition was held maintainable. Case-Laws IBC Fri, 04 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386817