FACILITATING RESOLUTION OF DISTRESSED COMPANIES - Measures for resolution of distressed companies

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Full Text of the Document

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....akes place in a previous year pursuant to a resolution plan approved under the Insolvency and Bankruptcy Code, 2016 (IBC) subject to the condition that jurisdictional Principal Commissioner or Commissioner is provided a reasonable opportunity of being heard. Thus, loss in such cases can be carried forward and set off even if there is change in voting power or shareholding. This benefit is proposed....