https://www.taxtmi.com/caselaws?id=764770 NCLAT allowed in part an application seeking approval to collapse transactions between IL FS Financial Services Ltd. and third party borrowers. The tribunal approved unwinding of most transactions but excluded certain respondents (Nos. 8-12) where no agreements existed and SIFL claimed the advanced amounts originated from them rather than the third party borrowers. NCLAT determined these complex transactions required deeper examination by NCLT in pending proceedings. The IRP's rejection of IFIN's claim in the CIRP was set aside, restoring IFIN's status in the resolution process. en-us Thu, 16 Jan 2025 00:00:00 +0530 Fri, 17 Jan 2025 08:46:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764770 NCLAT allowed in part an application seeking approval to collapse transactions between IL FS Financial Services Ltd. and third party borrowers. The tribunal approved unwinding of most transactions but excluded certain respondents (Nos. 8-12) where no agreements existed and SIFL claimed the advanced amounts originated from them rather than the third party borrowers. NCLAT determined these complex transactions required deeper examination by NCLT in pending proceedings. The IRP's rejection of IFIN's claim in the CIRP was set aside, restoring IFIN's status in the resolution process. Case-Laws IBC Thu, 16 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764770