https://www.taxtmi.com/caselaws?id=408352 The Tribunal dismissed the Application for intervention by the Lead Bank of creditors under an Inter Creditor Agreement in the Company Petition filed against Reliance Home Finance Limited and Reliance Capital Limited. The Tribunal found that the Applicant lacked a direct nexus with the debenture transaction, could not be classified as 'a person interested in the matter,' and could not dismiss the Company Petition without a hearing on merits. The Tribunal emphasized the independence of statutory rights of debenture holders and the Resolution Plan, deeming the Application frivolous and meritless, with no costs associated with the dismissal. en-us Thu, 27 May 2021 00:00:00 +0530 Tue, 08 Jun 2021 09:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408352 The Tribunal dismissed the Application for intervention by the Lead Bank of creditors under an Inter Creditor Agreement in the Company Petition filed against Reliance Home Finance Limited and Reliance Capital Limited. The Tribunal found that the Applicant lacked a direct nexus with the debenture transaction, could not be classified as 'a person interested in the matter,' and could not dismiss the Company Petition without a hearing on merits. The Tribunal emphasized the independence of statutory rights of debenture holders and the Resolution Plan, deeming the Application frivolous and meritless, with no costs associated with the dismissal. Case-Laws Companies Law Thu, 27 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408352