“Connected Person” under Explanation-I of Section 29A(J) of IBC relates to Resolution Applicant, not Corporate Debtor: NCLT [Read Order]

"Connected Person” under Explanation-I of Section 29A(J) of IBC Relates to Resolution Applicant, not Corporate Debtor, rules NCLT
Connected Person - Explanation - IBC Relates - Resolution Applicant - Corporate Debtor - NCLT - taxscan

The Hyderabad Bench of the National Company Law Tribunal ( NCLT ) held that the term “Connected Person” under Explanation-I of Section 29A(J) of the Insolvency and Bankruptcy Code, 2016 ( IBC ) relates to the resolution applicant, not the corporate debtor. This application was filed under section 60 (5) of the IBC and Rule…

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