Is Priority Rights not a Priority?
In a recent ruling of NCLAT, it was observed that in the event the Secured Creditor holding priority charge elects to relinquish its security interest then the priority status of such secured creditor is lost and shall rank equally with other Secured Creditors. The Author attempts to capture the existing position and the need for protection of priority rights inter-se Secured Creditors.
Read MorePF, PENSION AND GRATUITY CANNOT BE CONSIDERED AS LIQUIDATION ESTATE UNDER IBC: NCLAT
PF, PENSION AND GRATUITY CANNOT BE CONSIDERED AS LIQUIDATION ESTATE UNDER IBC: NCLAT CASE SUMMARY STATE BANK OF INDIA – Appellant vs MOSER BAER KARAMCHARI UNION & ANR – Respondent (COMPANY APPEAL (AT)(INSOLVENCY) NO. 396 of 2019) Order dated 19.08.2019 by Justice S.J.MUKHOPADHAYA and Justice A.I.S. CHEEMA 1. Issue in Consideration Whether the provident fund,
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