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Trust is included in definition of ‘person’ hence can be a ‘resolution applicant’
Case Law Details
- Case Name
- Aswathi Agencies Vs Bijoy Prabhakaran Pulipra (NCLAT Chennai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- NCLAT
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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 Applicati...
Author Info
