Tag: Section 21(2)

Related Parties of the Corporate Debtor cannot circumvent Proviso to Section 21(2) of IBC by Assignment of Financial Debt to a Third Party NCLAT Delhi

Related Parties of the Corporate Debtor cannot circumvent Proviso to Section 21(2) of IBC by Assignment of Financial Debt to a Third Party: NCLAT Delhi

Tuesday July 2, 2024. BY Shradha Patil and Vanshika Mathur | Insolvency & Bankruptcy

Introduction In the case of Peanence Commercial Pvt. Ltd. & Ors. v. Mamta Binani (RP for Rolta India Limited)[1], the Hon’ble NCLAT upheld the decision of NCLT Mumbai Bench stating that merely assignment of financial