https://www.taxtmi.com/highlights?id=74918 Inclusion of the Appellant in the Committee of Creditors (CoC) and also to provide voting rights to the Applicant/ Appellant - The appellant, a foreign financial lender, extended loans to the Corporate Debtor - Appellant is a related party of the Corporate Debtor or not - The NCLAT found no substantial evidence that the Corporate Debtor acted on the appellant's advice, directions, or instructions as required under Section 5(24)(h). The actions of Rembert Biemond as a director of the Corporate Debtor could not be construed as directions from the appellant. - The NCLAT set aside the Adjudicating Authority's order, allowing the appellant's inclusion in the CoC with proportionate voting rights, based on the admitted claim amount in the CIRP. en-us Thu, 15 Feb 2024 07:30:48 +0530 Thu, 15 Feb 2024 07:30:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=74918 Inclusion of the Appellant in the Committee of Creditors (CoC) and also to provide voting rights to the Applicant/ Appellant - The appellant, a foreign financial lender, extended loans to the Corporate Debtor - Appellant is a related party of the Corporate Debtor or not - The NCLAT found no substantial evidence that the Corporate Debtor acted on the appellant's advice, directions, or instructions as required under Section 5(24)(h). The actions of Rembert Biemond as a director of the Corporate Debtor could not be construed as directions from the appellant. - The NCLAT set aside the Adjudicating Authority's order, allowing the appellant's inclusion in the CoC with proportionate voting rights, based on the admitted claim amount in the CIRP. Highlights Insolvency and Bankruptcy Thu, 15 Feb 2024 07:30:48 +0530 https://www.taxtmi.com/highlights?id=74918