Supreme Court Upholds NCLAT Ruling on Promoter Ineligibility in Compromise Schemes — Clarifies Legal Framework for Liquidation and Resolution Processes. Citing Section 29A of the IBC, the court ruled that promoters ineligible to propose resolution plans cannot file for compromise under Section 230 of the Companies Act, 2013....
The dispute arose from two civil appeals and a writ petition concerning the eligibility of promoters to propose schemes of compromise and arrangement under the Companies Act, 2013 during liquidation p...




