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
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
would have been justified in
exercising its jurisdiction under Section 60(5)(c) of
the IBC and, in exercise of our jurisdiction
under Article ... present case, the Adjudicating
Authority is sufficiently empowered under Section
60(5)(c) of the IBC to make a determination of the
Company Appeal
under Section 60(5) of the
IBC. Section 60(5) reads as under: -
60. Adjudicating Authority for corporate persons.—
(5) Notwithstanding anything to the contrary ... 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
debtor, NCLT is
empowered to adjudicate this dispute under Section
60(5)(c) of IBC.
I.2. Jurisdiction of NCLT and GERC ... 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
prayers sought for by the Respondent No.
1 under Section 60(5) of the IBC in view of the law laid down ... does not
have jurisdiction under Section 60(5)(c) of the Insolvency and Bankruptcy
Code, 2016 which the IBC expressly does not empower
would have been justified in
exercising its jurisdiction under Section 60(5)(c) of
the IBC and, in exercise of our jurisdiction
under Article ... present case, the Adjudicating
Authority is sufficiently empowered under Section
60(5)(c) of the IBC to make a determination of the
Company Appeal
relevant to note that unlike Section 4 of the PIA,
Section 60(5)(c) of IBC is not subject to other provisions
of the statute ... insolvency court under Section 4 of the PIA, which is
similar to Section 60(5)(c) of IBC. This Court held that
an insolvency court
relevant to note that unlike Section 4 of the PIA,
Section 60(5)(c) of IBC is not subject to other provisions
of the statute ... insolvency court under Section 4 of the PIA, which is
similar to Section 60(5)(c) of IBC. This Court held that
an insolvency court
