TMI BlogCIRP proceedings - Financial Creditors - Related party - while the default rule under the first proviso...CIRP proceedings - Financial Creditors - Related party - while the default rule under the first proviso to Section 21(2) is that only those financial creditors that are related parties in praesenti would be debarred from the CoC, those related party financial creditors that cease to be related parties in order to circumvent the exclusion under the first proviso to Section 21(2), should also be considered as being covered by the exclusion thereunder. Mr Kaul has argued, correctly in our opinion, ..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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