https://www.taxtmi.com/caselaws?id=367487 The appellant's challenge as a 'related party' was dismissed by the Adjudicating Authority, upholding the National Company Law Tribunal's decision. The appellant, an assignee of a Promoter, was deemed a 'related party' due to the strategic debt assignment to reduce the State Bank of India's influence. The assignment transferred rights and liabilities, making the appellant liable as the assignor. The judgment highlighted that the appellant assumed the assignor's position, justifying the 'related party' classification. The appeal lacked merit, leading to its dismissal without costs awarded. en-us Tue, 07 Aug 2018 00:00:00 +0530 Fri, 21 Sep 2018 08:24:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367487 The appellant's challenge as a 'related party' was dismissed by the Adjudicating Authority, upholding the National Company Law Tribunal's decision. The appellant, an assignee of a Promoter, was deemed a 'related party' due to the strategic debt assignment to reduce the State Bank of India's influence. The assignment transferred rights and liabilities, making the appellant liable as the assignor. The judgment highlighted that the appellant assumed the assignor's position, justifying the 'related party' classification. The appeal lacked merit, leading to its dismissal without costs awarded. Case-Laws Insolvency and Bankruptcy Tue, 07 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367487