Fri 11/15/2019 00:23 AM
India’s Supreme Court today (Nov. 15) set aside the National Company Law Appellate Tribunal’s July 4 judgment that ordered “similar treatment” between operational and financial creditors, according to a hearing that Reorg attended.
The Supreme Court of India said there is “no doubt the ultimate discretion on distribution is with the committee of creditors[,]” and that the “NCLAT can't interfere with the commercial decisions taken by banks.”
More to come...
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