Memorandum of Compromise Entered by Operational Creditor and Resigned Director of Corporate Debtor is not valid: NCLAT upholds Order of NCLT in Favour of SBI

By Yogitha S. Yogesh - On August 11, 2023 3:30 pm - 3 mins read

Memorandum of Compromise Entered by Operational Creditor - Resigned Director - Operational Creditor - Corporate Debtor - NCLAT - Order of NCLT in Favour of SBI - taxscan

The Chennai bench of the National Company Law Appellate Tribunal (NCLAT) has held that memorandum of Compromise entered by the operational creditor and resigned director of the corporate debtor is not valid and upheld the order of the National Company Law Tribunal (NCLT) in favour of the State Bank of India (SBI). K Parthiban Rasu,…

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