Supreme Court Reverses High Court in SICA Case on Unsecured Creditor Rights - Sanctioned Rehabilitation Scheme Binding on All Creditors. Court held that under Sections 18(8) and 32 of Sick Industrial Companies (Special Provisions) Act, 1985, unsecured creditors cannot opt out of scaled-down payments and must accept scheme terms for company revival.
17 Mar 2023The Supreme Court addressed a group of appeals concerning the binding effect of rehabilitation schemes sanctioned under the Sick Industrial Companies ...




