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NCLT Takes A Detour From IBC For A ‘Workable Solution’ In SBM Paper Mills Case
NCLT revises the rules of the insolvency game: to withdraw or not to withdraw?
21 Jan 2019, 08:47 PM IST
In this insolvency fairytale, a charming princess (resolution applicant) tries to save the distressed prince (insolvent company) from the clutches of financial misery. And the stepfather (promoter barred by law from participating in the insolvency) represents the spoke in the wheel attempting to hinder their happy ending.The story is about the insolvency proceedings of SBM Paper Mills Pvt. Ltd. - in which the Mumbai National Company ...
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