https://www.taxtmi.com/caselaws?id=440040 The Tribunal upheld the Adjudicating Authority's decision to reject the extension of the timeline for submitting a scheme of arrangement under Section 230 of the Companies Act, 2013. The Appellant, an operational creditor, failed to provide convincing evidence of a formulated scheme ready for submission, and the 90-day period stipulated by Regulation 2-B of the Liquidation Process Regulations had expired. The appeal was dismissed, and no costs were awarded. en-us Wed, 05 Jul 2023 00:00:00 +0530 Sat, 08 Jul 2023 08:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440040 The Tribunal upheld the Adjudicating Authority's decision to reject the extension of the timeline for submitting a scheme of arrangement under Section 230 of the Companies Act, 2013. The Appellant, an operational creditor, failed to provide convincing evidence of a formulated scheme ready for submission, and the 90-day period stipulated by Regulation 2-B of the Liquidation Process Regulations had expired. The appeal was dismissed, and no costs were awarded. Case-Laws Insolvency and Bankruptcy Wed, 05 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440040