SC: Reserved Category Candidate Who Availed Prelims Relaxation Cannot Claim an Unreserved Seat  ||  SC: Public Sector Enterprises Cannot Act Against Retired Employees Without Clear Rules  ||  Supreme Court: Single FIR is Permissible in Mass Cheating Cases Arising From One Conspiracy  ||  SC: Courts Cannot Take Cognizance of Time-Barred Cheque Bounce Cases Without Condoning Delay  ||  SC: Exoneration in Disciplinary Proceedings Does Not Always Bar Criminal Prosecution  ||  SC: Judge Cannot Be Presumed Biased Merely Because a Litigant’s Relative Is Police or Court Staff  ||  Delhi HC: Delays From Medical Review Cannot Justify Ante-Dated Seniority For BSF Candidates  ||  Allahabad HC: Being ‘Proclaimed Offender’ Does Not Completely Bar Grant of Anticipatory Bail  ||  Delhi HC: Abortion by a Married Woman For Marital Discord is Legal under The MTP Act  ||  NCLT Kochi: Fraud Has No Time Limit and Directors Cannot Use Delay As a Defense    

SC: Corporate Debtor Only Offering Security by Pledging Shares Not a Financial Creditor - (04 Feb 2021)

INSOLVENCY

Supreme Court has held that if a corporate debtor has only offered security by pledging shares, without undertaking to discharge the borrower's liability, then the creditor in such a case will not become 'financial creditor' as defined under the Insolvency and Bankruptcy Code, 2016(IBC). The Court has held that such a creditor could be a secured creditor but will not be a financial creditor under the IBC entitled to take part in the insolvency resolution process.

Tags : SUPREME COURT   CORPORATE DEBTOR  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved