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SC allows banks to go ahead with Siva Industries settlement offer

by Editor June 3, 2022, 7:48 pm 1.4k Views

SUPREME COURT

The Supreme Court on Friday allowed banks to proceed with an offer of settlement submitted by the promoter of Siva Industries under Section 12A of the Insolvency and Bankruptcy Code (IBC), which allows such a provision if 90 per cent of the committee of creditors (CoC) agree to it.

The Supreme Court reiterated it…

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