Define the term 'Control' in the context of insolvency proceedings.
CS Professional · Insolvency and Bankruptcy - Law and Practice · PYQS · June 2026
Define the term 'Control' in the context of insolvency proceedings.
Answer & Explanation:
IBC has not explicitly defined the term "Control". Pursuant to section 3(37) of IBC, it will have same meaning as defined in Section 2(27) of the Companies Act, 2013 as under: "control" shall include the right to appoint majority of the directors or to control the management or policy decisions exercisable by a person or persons acting individually or in concert, directly or indirectly, including by virtue of their shareholding or management rights or shareholders agreements or voting agreements or in any other manner;
Topics: Insolvency and Bankruptcy Code, 2016
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