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Resolution Professional doesn't entrust with power to determine or reject claim of financial debt: NCLAT

June 21, 2019[2019] 108 taxmann.com 173 (NCL-AT)
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IBC: Where financial creditor on occurrance of default by corporate debtor transferred pledged shares to itself by invoking 'Pledge Deed' and became shareholder, its claim for financial debt could not be considered

IBC: Resolution Professional could collate or accept claim but it has no power to determine or reject claim of financial debt

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