Trust is included in definition of ‘person’ hence can be a ‘resolution applicant’

Aswathi Agencies Vs Bijoy Prabhakaran Pulipra (NCLAT Chennai) NCLAT Chennai held that the word `Person’, is defined as per Section 3 (23)(d) of the I & B Code, which includes a `Trust’, therefore, there is no `Fetter’ / `Embargo’ or a `Legal Impediment’, for a `Trust’, to be a `Resolution Applicant’, in submitting a `Resolution Plan’ Facts- A Corporate Debtor (PVS Memorial Hospital Private Limited) was admitted into Corporate Insolvency Resolution Process (CIRP) by the Adjudicating Authority. A Successful Resolution Application (M/s. Lissie M...