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Tag Archive for "proviso-of-the-ibc" -

CentrikBlogsProviso of the IBC

Tag: Proviso of the IBC

Fake Commercial Transactions will not constitute ‘Financial Debt’ under IBC: SC

Posted by AdminPosted on February 10, 2021February 10, 20210 CommentsCategories Grievance Redressal, Insolvency & Bankruptcy Code 2016, Legal Advisory, Registration And ComplianceTags corporate debtor under IBC, definition of the financial debt under IBC, Fake Commercial Transactions, Financial Creditors, financial debt under IBC, Insolvency and Bankruptcy Code, Insolvency Resolution of a Corporate Debtor, NCLT and IBC, Proviso of the IBC

A perfect decision by the SC where the parties perform activities to avoid any commercial transactions which are collusive in nature or where financial creditor escape the bar under Section 21(2) first proviso of the IBC.

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