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A company could not avail benefit of the Sabka Vishwas scheme as it was under moratorium under IBC - The Courts are meant to do justice and cannot compel a person to do something which was impossible.
For RBI-regulated entities, though - and, in this instance, for banks subject to orders under Section 35A of the BR Act - legal options are limited to the reconsideration framework set out in the Act. The affected party goes back to RBI seeking a review of its decision. But this is neither bound by set processes nor timelines. The only alternate remedy is filing a writ petition before a high court or Supreme Court.
ZEEL chief executive Punit Goenka and his father Subhash Chandra huffed and puffed and managed to blunt a series of adverse rulings against them by market regulator SEBI and company law adjudicator NCLT at the appellate level. That, however, did not prevent Sony Pictures from calling off its $10-billion merger deal with ZEEL. Here’s a look at the various cases.
Current Affairs for UPSC: Jagran Josh presents Daily Current Affairs Quiz for all dedicated students and readers preparing for various competitive exams. In today’s session, get briefings about the important topics given in Q&A formats such as 'World Sight Day' 2023 etc.