IBC:
(i) Section 60(5) must be interpreted in the context of Section 25(2)(b) of the
IBC, which provides that ... provisions equivalent to
Sections 18 and 25 (2) (b) of IBC. The interplay between these provisions
and Section 60(5) must be considered
resolution of
the Corporate Debtor. Section 60(5)(c) provides thus:
“Section 60 - Adjudicating Authority for corporate persons
…..
(5) Notwithstanding anything to the contrary contained ... actions prohibited by Section 14 of IBC, there
would have been no requirement for the legislature to enact
Section 60(5)(c) of IBC. Section
relevant to note that unlike Section 4 of
the PIA, Section 60(5)(c) of the IBC is not
subject to other provisions ... recovery in the liquidation.
7.12 Section 60(5)(c) of the IBC reads as
under:
"60(5) Notwithstanding anything to the
contrary contained
insolvency
resolution” occurring in Section 60(5)(c). It was also held that
the residuary clause of Section 60(5) cannot be taken
advantage ... section (5) of Section
60, as it speaks about the jurisdiction of the NCLT. Clause
(c) of sub-section (5) of Section 60 is very
SECTION 65 OF THE IBC ............................................... 20
B. SCOPE OF SECTION 75 OF THE IBC ............................................... 30
C. RESIDUARY POWERS OF THE NCLT UNDER SECTION 60(5 ... RELEVANT
NCLT RULES, 2016
34. Sections 65, 75, and Section 60(5)(c) of the IBC, need to be analysed
to determine whether
5) of IBC:
35.1. Section 60(5) must be interpreted in the
context of Section 25(2)(b) of IBC, which provides that ... provisions equivalent to Sections 18
and 25(2)(b) of IBC. The interplay between these provisions and
Section 60(5) must be considered
matters which the
NCLT has the jurisdiction to entertain. Section 60(5) is provides :
60.(5) Notwithstanding anything to the contrary contained in
any other ... section (5) of Section 60 , as it speaks
about the jurisdiction of the NCLT. Clause (c) of sub-section (5)
of Section 60 is very
matters which the
NCLT has the jurisdiction to entertain. Section 60(5) is provides :
60.(5) Notwithstanding anything to the contrary contained in
any other ... section (5) of Section 60 , as it speaks
about the jurisdiction of the NCLT. Clause (c) of sub-section (5)
of Section 60 is very
prayers sought for by the Respondent No.
1 under Section 60(5) of the IBC in view of the law laid down ... NCLT arises not only under Section 60(5) but also under
Section 35(1)(n) of IBC. Reliance has also placed on Section
resolution of the Corporate Debtor. Section
60(5)(c) provides thus:
" Section 60 - Adjudicating Authority for corporate
persons
.....
(5) Notwithstanding anything to the contrary ... orders
are inconsistent with Section 20 of IBC are in valid and prohibited under
Section 238 of IBC. Moreover, Section 14 is not applicable
