https://www.taxtmi.com/caselaws?id=405283 A compromise or arrangement under section 230 of the Companies Act, 2013, proposed during liquidation under the Insolvency and Bankruptcy Code, 2016, forms part of the liquidation continuum and must conform to the Code's disqualifications. A person ineligible under section 29A cannot use section 230 as a back-door route to revive the corporate debtor, and the bar in section 29A read with section 35(1)(f) applies in liquidation. Regulation 2B of the Liquidation Process Regulations, including its proviso, is a valid clarification of that statutory position and does not exceed delegated power. en-us Mon, 15 Mar 2021 00:00:00 +0530 Fri, 12 Aug 2022 12:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405283 A compromise or arrangement under section 230 of the Companies Act, 2013, proposed during liquidation under the Insolvency and Bankruptcy Code, 2016, forms part of the liquidation continuum and must conform to the Code's disqualifications. A person ineligible under section 29A cannot use section 230 as a back-door route to revive the corporate debtor, and the bar in section 29A read with section 35(1)(f) applies in liquidation. Regulation 2B of the Liquidation Process Regulations, including its proviso, is a valid clarification of that statutory position and does not exceed delegated power. Case-Laws Insolvency and Bankruptcy Mon, 15 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405283