Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019
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Relatives definition in insolvency rules confirms manner of relationship follows explanation in section five clause. The manner of relationship for the purposes of clause (ii) of the Explanation to sub section (2) of section 79 is to be determined in accordance with the Explanation to clause (24A) of section 5, thereby defining Relatives by reference to the statutory explanation used elsewhere in the insolvency framework.
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Relatives definition in insolvency rules confirms manner of relationship follows explanation in section five clause.
The manner of relationship for the purposes of clause (ii) of the Explanation to sub section (2) of section 79 is to be determined in accordance with the Explanation to clause (24A) of section 5, thereby defining Relatives by reference to the statutory explanation used elsewhere in the insolvency framework.
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