Section 230 of Companies Act Archives

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLT rejects Vedanta Ltd.’s demerger plan over non-disclosure of SEPCO’s debt and procedural irregularities

“The present one is a case where material facts have not been disclosed by the Applicant Company, violating Section 230 (2)(a) of the Companies Act, 2013, which in our considered opinion is bound to prejudice the public interest at large.”

Case Briefs Supreme Court

Ineligible promoters under Section 29A IBC can’t propose compromise or arrangement schemes under Section 230 of the Companies Act, 2013: Supreme Court

“The purpose of the ineligibility under Section 29A is to achieve a sustainable revival and to ensure that a person who is the cause of the problem either by a design or a default cannot be a part of the process of solution.”