https://www.taxtmi.com/highlights?id=84960 The NCLAT allowed the approval of the New Board's decision to collapse/unwind transactions whereby IFIN provided loans to third parties, except for certain respondents (8-12). The NCLAT set aside the IRP's rejection of IFIN's claim in the CIRP of Attivo Economic Zone (Mumbai) Pvt. Ltd., restoring IFIN's status. The NCLAT held that collapsing agreements with respondents 8-12 required deeper consideration as SIFL claimed the amounts were given by SIFL, not third-party borrowers. The appropriate forum to examine these transactions is the pending NCLT proceedings. en-us Fri, 17 Jan 2025 11:11:19 +0530 Fri, 17 Jan 2025 11:11:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=84960 The NCLAT allowed the approval of the New Board's decision to collapse/unwind transactions whereby IFIN provided loans to third parties, except for certain respondents (8-12). The NCLAT set aside the IRP's rejection of IFIN's claim in the CIRP of Attivo Economic Zone (Mumbai) Pvt. Ltd., restoring IFIN's status. The NCLAT held that collapsing agreements with respondents 8-12 required deeper consideration as SIFL claimed the amounts were given by SIFL, not third-party borrowers. The appropriate forum to examine these transactions is the pending NCLT proceedings. Highlights IBC Fri, 17 Jan 2025 11:11:19 +0530 https://www.taxtmi.com/highlights?id=84960