Advocate Sushila
SUPREME COURT HOLDS COLLUSIVE AND SHAM TRANSACTIONS WITH CORPORATE DEBTOR NOT CONSIDERED AS FINANCIAL DEBT

SUPREME COURT HOLDS COLLUSIVE AND SHAM TRANSACTIONS WITH CORPORATE DEBTOR NOT CONSIDERED AS FINANCIAL DEBT

The Three Judge Bench of the #SupremeCourt has in a recent case of Phoenix Arc Private Limited vs Spade Financial Services Limited & Ors. passed a Judgment dated 01-02-2021 and held that firstly, as the Respondents are not #financialcreditors and secondly, as the Respondents are related parties of the #CorporateDebtor, they must be excluded from the #CommitteeofCreditors.


To read more, please visit the link below:


http://www.theindianlawyer.in/blog/2021/02/06/supreme-court-holds-collusive-and-sham-transactions-with-corporate-debtor-not-considered-as-financial-debt/


#financialdebt #financialcreditor #corporatedebtor #nclt #nclat #supremecourt #collusion

Did you find this write up useful? YES 0 NO 0
Featured Members view all

New Members view all

×

C2RMTo Know More

Something Awesome Is In The Work

0

DAYS

0

HOURS

0

MINUTES

0

SECONDS

Sign-up and we will notify you of our launch.
We’ll also give some discount for your effort :)

* We won’t use your email for spam, just to notify you of our launch.