IBC Sections 14 & 238 Override SEBI Act Section 28A, But SEBI Can Act on Fraud by Corporate Debtor's Executives.

IBC Sections 14 & 238 Override SEBI Act Section 28A, But SEBI Can Act on Fraud by Corporate Debtor's Executives. https://www.taxtmi.com/highlights?id=55072 Interpretation of Statute - it is concluded that Section 14 and Section 238 of IBC 2016 has an overriding effect on Section 28A of SEBI Act. - SEBI is not barred from taking any action as it may deem fit, against the directors, shareholders and key management personnel of the Corporate Debtor for their fraudulent acts. - Tri en-us Fri, 09 Oct 2020 13:34:31 +0530 Fri, 09 Oct 2020 13:34:31 +0530 TaxTMI RSS Generator IBC Sections 14 & 238 Override SEBI Act Section 28A, But SEBI Can Act on Fraud by Corporate Debtor's Executives. https://www.taxtmi.com/highlights?id=55072 Interpretation of Statute - it is concluded that Section 14 and Section 238 of IBC 2016 has an overriding effect on Section 28A of SEBI Act. - SEBI is not barred from taking any action as it may deem fit, against the directors, shareholders and key management personnel of the Corporate Debtor for their fraudulent acts. - Tri Highlights SEBI Fri, 09 Oct 2020 13:34:31 +0530 https://www.taxtmi.com/highlights?id=55072