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Financial services provider having nominal shareholding in corporate debtor Co. wasn't a related party

March 25, 2020[2020] 115 349 (NCLT- Chennai )

IBC : Where applicant-financial service provider had its nominee directors on board of corporate debtor, such incidental right to protect its investment could not be magnified to an extent to say that applicant was not entitled to become member of CoC and since applicant had nominal shareholding in corporate debtor company, applicant was not a related party and was to be permitted to become member of CoC

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