Government creditors inclusion expands eligible creditors to central, state and local authorities for insolvency resolution. Section 31(1) is amended to insert after 'members, creditors,' that the Central Government, any State Government or any local authority to whom a debt arises from payment of dues under any law, including authorities owed statutory dues, shall be included, thereby expanding the creditor class recognised under the provision.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Government creditors inclusion expands eligible creditors to central, state and local authorities for insolvency resolution.
Section 31(1) is amended to insert after "members, creditors," that the Central Government, any State Government or any local authority to whom a debt arises from payment of dues under any law, including authorities owed statutory dues, shall be included, thereby expanding the creditor class recognised under the provision.
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