Insolvency And Bankruptcy Rules May Be Amended To Include Inherent Powers Allowing Settlement After Admission Of Case: SC [Read Order]

The Supreme Court, on Monday, suggested amendment of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, permitting settlement to be recorded by the Tribunal after admission of case under the Insolvency and Bankruptcy Code, 2016 (IBC).The Court was hearing an Appeal filed under Article 142 by corporate debtor, Uttara Foods and Feeds Private Limited, bringing...