Madras High Court Upholds Appointment of District Judges as Tamil Nadu Lokayukta Secretary  ||  Allahabad High Court: IO’s Mere Apprehension Cannot Justify Withholding Seized Items  ||  Patna High Court: Mere Sight of Spouse in Compromising Position doesn't Prove Adultery  ||  Sikkim High Court: POCSO Case not Quashed on Settlement after Survivor Turns Major  ||  Chhattisgarh High Court: Backward Classes Commission Cannot Decide Private Commercial Disputes  ||  SC: Futures & Options Investors Cannot Recover Trading Losses From Professional Clearing Members  ||  Supreme Court: NCTE Executive Committee Can Seek Annual Reports From Teacher Education Institutes  ||  SC: S.362 CrPC Cannot Limit HC’s Inherent Power to Recall Judgment Causing Miscarriage of Justice  ||  Supreme Court Upholds RBI’s Power to Supersede Multi-State Co-op Bank Boards Beyond Six Months  ||  Supreme Court: Retaining Victim in a Specific Role Cannot Reduce Functional Disability    

SC: Financial Creditor Can be Excluded from CoC if it Got Rid of 'Related Party' Label - (02 Feb 2021)

INSOLVENCY

Supreme Court has held that a financial creditor which is not a "related party" to the corporate debtor at present can also be excluded from the Committee of Creditors (CoC) if it is found that its removal of the "related party" label was a part of strategy to bypass the bar under Section 21(2), first proviso of the Insolvency and Bankruptcy Code, 2016 (IBC).

Tags : SUPREME COURT   FINANCIAL CREDITOR  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved