A 'Connected Person' under the IBC often refers to a person within the immediate company network. The definition highlights one key differentiator: the existence of a personal relationship between the company and the person. Read on to understand the nuances of identifying a Connected Person.

The term Related Party is given under Section 5(24) of the

Section 29A is a restrictive provision and specifically lists down the persons who are not eligible to be resolution applicants. It is relevant to the sale during liquidation, as well as sale outside the liquidation process.

In the present case, the NCLT referred the parties to arbitration, but it is crucial to throw light on the fact that it didn’t hold that the Arbitration Act would prevail over IBC.

The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2020 seeks to curb the social and economic distress caused by COVID-19, and rescue defaulters. This article seeks to analyze the benefits and the glaring ambiguities arising from the ordinance.

The definition of "undischarged insolvent'' is not specific in IBC. An undischarged insolvent is a person who has been adjudged as bankrupt by a bankruptcy order under section 126.