Extortionate credit transactions can be unwound or modified, with repayment and security relinquishment ordered to remedy oppressive terms. Upon satisfaction under section 50(1) that a credit transaction imposed extortionate terms, the Adjudicating Authority may restore the pre-transaction position, set aside whole or part of the debt, modify the transaction terms, require repayment by any party who received amounts, or require relinquishment of any security interest in favour of the liquidator or the resolution professional.
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Provisions expressly mentioned in the judgment/order text.
Extortionate credit transactions can be unwound or modified, with repayment and security relinquishment ordered to remedy oppressive terms.
Upon satisfaction under section 50(1) that a credit transaction imposed extortionate terms, the Adjudicating Authority may restore the pre-transaction position, set aside whole or part of the debt, modify the transaction terms, require repayment by any party who received amounts, or require relinquishment of any security interest in favour of the liquidator or the resolution professional.
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