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of <h1>'Related Party' in Insolvency Code 2016: Key Influencers, Control, and Significant Shares Explained</h1> The Insolvency and Bankruptcy Code, 2016, defines 'Related Party' concerning a corporate debtor and an individual. For a corporate debtor, it includes directors, partners, key managerial personnel, and entities influenced or controlled by these individuals or their relatives. It also covers entities where these individuals hold significant shares or influence. For individuals, 'Related Party' includes relatives, partners, trustees, and entities where the individual holds significant shares or influence. The definition extends to those who can control or influence the corporate debtor or individual through various means, including voting rights and board composition.
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