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Extortionate credit transactions.

Section 50 - Act - LIQUIDATION PROCESS - Insolvency and Bankruptcy - Section 50 - 50. (1) Where the corporate debtor has been a party to an extortionate credit transaction involving the receipt of financial or operational debt during the period withi .....

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d exorbitant payments to be made by the corporate debtor. (2) The Board may specify the circumstances in which a transactions which shall be covered under sub-section (1). Explanation.-For the purpose of this section, it is clarified that any debt ex .....

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