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‘Exceptional Circumstances’ must exist to prevent promoters to compete with other resolution applicants to retain control of corporate debtor in case of MSME
Case Law Details
- Case Name
- R. Raghavendran Vs C. Raja John & Ors. (Supreme Court of India)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- Supreme Court of India
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R. Raghavendran Vs C. Raja John & Ors. (Supreme Court of India)
‘Exceptional Circumstances’ must exist to prevent promoters to compete with other resolution applicants to retain control of corporate debtor in case of MSME
Conclusion: In present facts of the case, the Hon’ble Supreme Court observed that in “exceptional circumstances” if a corporate debtor is an MSME, it is not necessary for promoters to compete with other resolution applicants to retain control of the corporate debtor. But in the impugned judgment, it can hardly be disputed that there is no discussion on t...
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