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NCLAT Issues Notice On SEBI’s Challenge To Plan Clause Allegedly Shielding Subsidiary From Penalties

The National Company Law Appellate Tribunal on Friday issued notice on SEBI’s appeal challenging an NCLT Mumbai order that refused to recall or clarify a paragraph in the Reliance Capital resolution plan which, according to SEBI, is being misused to claim that all liabilities of the company’s subsidiaries also stand extinguished. SEBI says this interpretation…