https://www.taxtmi.com/caselaws?id=399358 The Tribunal determined that Sections 14 and 238 of the IBC 2016 override Section 28A of the SEBI Act when a Corporate Insolvency Resolution Process (CIRP) is initiated. SEBI's applications for modification were dismissed, affirming IBC's primacy over SEBI in recovery proceedings against the Corporate Debtor. SEBI can still act against directors and management for fraudulent acts. The Tribunal advised SEBI's Recovery Officer to collaborate with the Resolution Professional and participate in Committee of Creditors (CoC) meetings as an observer to expedite resolution, thereby ensuring investor protection within the IBC framework. en-us Thu, 12 Mar 2020 00:00:00 +0530 Fri, 08 Nov 2024 12:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399358 The Tribunal determined that Sections 14 and 238 of the IBC 2016 override Section 28A of the SEBI Act when a Corporate Insolvency Resolution Process (CIRP) is initiated. SEBI's applications for modification were dismissed, affirming IBC's primacy over SEBI in recovery proceedings against the Corporate Debtor. SEBI can still act against directors and management for fraudulent acts. The Tribunal advised SEBI's Recovery Officer to collaborate with the Resolution Professional and participate in Committee of Creditors (CoC) meetings as an observer to expedite resolution, thereby ensuring investor protection within the IBC framework. Case-Laws SEBI Thu, 12 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399358