Indian Oil Corporation Limited vs Arcelor Mittal Nippon Steel India on 10 October, 2023 indiankanoon.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiankanoon.org Daily Mail and Mail on Sunday newspapers.
IBC to trump PMLA in case of corporate debtors, not wrongdoers: SC
SECTIONS
Share
Synopsis
In a ruling that will have a bearing on several high-profile insolvency cases, the Supreme Court has clarified that proceedings against a corporate debtor over money-laundering charges would end once a resolution plan is approved, but continue against wrongdoers in the erstwhile management.
New Delhi: In a ruling that will have a bearing on several high-profile insolvency cases, the Supreme Court has clarified that proceedings against a corporate debtor over money-laundering charges would end once a resolution plan is approved, but continue against wrongdoers in the erstwhile management. A three-judge bench led by Justice RF Nariman recently clarified this while upholding Section 32A of the Insolvency and Bankruptcy Code. The pending cases that will be impacted by the ruling include that of Bhushan Power &Steel, which was acquired by JSW Steel.
Orissa High Court Dismisses PIL Challenging Auction To ArcelorMittal Nippon Steel Limited livelaw.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from livelaw.in Daily Mail and Mail on Sunday newspapers.