https://www.taxtmi.com/caselaws?id=290694 The Tribunal held that the foreign oil and gas assets held through Respondent Nos. 2 to 5 are considered the property of VIL for the ongoing Corporate Insolvency Resolution Process (CIRP). Consequently, Section 14 of the Insolvency and Bankruptcy Code applies to these assets, prohibiting actions to enforce security interests. The Tribunal also found that the criteria for consolidating the CIRP were met, emphasizing the importance of treating these assets as part of VIL's resolution process to protect stakeholders' rights and interests. The Tribunal granted relief sought in MA 2385/2019, directing the inclusion of these assets in VIL's CIRP timeline. en-us Wed, 12 Feb 2020 00:00:00 +0530 Sat, 10 Oct 2020 10:34:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290694 The Tribunal held that the foreign oil and gas assets held through Respondent Nos. 2 to 5 are considered the property of VIL for the ongoing Corporate Insolvency Resolution Process (CIRP). Consequently, Section 14 of the Insolvency and Bankruptcy Code applies to these assets, prohibiting actions to enforce security interests. The Tribunal also found that the criteria for consolidating the CIRP were met, emphasizing the importance of treating these assets as part of VIL's resolution process to protect stakeholders' rights and interests. The Tribunal granted relief sought in MA 2385/2019, directing the inclusion of these assets in VIL's CIRP timeline. Case-Laws Insolvency and Bankruptcy Wed, 12 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290694