‘Exceptional Circumstances’ must exist to prevent promoters to compete with other resolution applicants to retain control of corporate debtor in case of MSME

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...