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Power to make rules for initiating proceedings for coordination and cooperation of corporate debtors of group
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....e contrary contained in this Code, the Central Government may, prescribe the manner and conditions for conducting insolvency proceedings under Part II, where these proceedings are initiated against two or more corporate debtors that form part of a group. (2) Without prejudice to the generality of foregoing provision, such rules may, provide for all or any of the following matters, namely:-- ....
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....porate debtors that form part of a group; (e) making of an agreement that provides measures to coordinate and synchronise different aspects of the insolvency proceedings of the corporate debtors that form part of a group, which shall be binding on the corporate debtors approving the same including their committees of creditors, and the Adjudicating Authority may issue necessary orders to ....
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.... or indirectly, including by virtue of their shareholding, management rights, ownership interest, shareholders agreements, voting agreements, articles of association, limited liability partnership agreements or in any other manner; (b) "group" means two or more corporate debtors that are interconnected by control or significant ownership, and include a holding company, a subsidiary compan....