https://www.taxtmi.com/highlights?id=51555 CIRP process - We are not convinced with the argument that amended Sub-Section (4) of Section 30 requires only Secured Financial Creditors to contribute towards interim finance and not the Unsecured Financial Creditors. No such interpretation can be drawn. We will not interfere in the collective decision of COC in this regard - The dissenting Financial Creditor in COC cannot be allowed to scuttle CIRP process otherwise the provision permitting COC to take decisions with regard to subjects stated in Section 28(1) by given majority of 66% under Section 28(3) would be rendered nugatory. en-us Mon, 03 Feb 2020 11:25:22 +0530 Mon, 03 Feb 2020 11:25:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=51555 CIRP process - We are not convinced with the argument that amended Sub-Section (4) of Section 30 requires only Secured Financial Creditors to contribute towards interim finance and not the Unsecured Financial Creditors. No such interpretation can be drawn. We will not interfere in the collective decision of COC in this regard - The dissenting Financial Creditor in COC cannot be allowed to scuttle CIRP process otherwise the provision permitting COC to take decisions with regard to subjects stated in Section 28(1) by given majority of 66% under Section 28(3) would be rendered nugatory. Highlights Insolvency and Bankruptcy Mon, 03 Feb 2020 11:25:22 +0530 https://www.taxtmi.com/highlights?id=51555