https://www.taxtmi.com/caselaws?id=304166 The Tribunal dismissed the application seeking reconsideration of a Scheme of Compromise and Arrangement under Section 230 of the Companies Act, 2013. Despite the impact of COVID-19 on the Company's operations and assets, the Tribunal emphasized its limited power to interfere with creditors' commercial decisions. The creditors had already rejected the revised scheme, indicating its lack of feasibility. The Tribunal highlighted its supervisory role and inability to compel creditors to reconsider schemes, ultimately leading to the dismissal of the application without costs awarded. en-us Tue, 09 Jun 2020 00:00:00 +0530 Mon, 12 Sep 2022 08:15:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304166 The Tribunal dismissed the application seeking reconsideration of a Scheme of Compromise and Arrangement under Section 230 of the Companies Act, 2013. Despite the impact of COVID-19 on the Company's operations and assets, the Tribunal emphasized its limited power to interfere with creditors' commercial decisions. The creditors had already rejected the revised scheme, indicating its lack of feasibility. The Tribunal highlighted its supervisory role and inability to compel creditors to reconsider schemes, ultimately leading to the dismissal of the application without costs awarded. Case-Laws Insolvency and Bankruptcy Tue, 09 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304166