{"id":9159,"date":"2021-02-01T12:00:00","date_gmt":"2021-02-01T12:00:00","guid":{"rendered":"https:\/\/lexforti.com\/legal-news\/?p=9159"},"modified":"2021-04-14T12:05:10","modified_gmt":"2021-04-14T12:05:10","slug":"phoenix-arc-spade-financial-services","status":"publish","type":"post","link":"https:\/\/lexforti.com\/legal-news\/phoenix-arc-spade-financial-services\/","title":{"rendered":"Phoenix ARC Private Limited v. Spade Financial Services Limited and Ors"},"content":{"rendered":"\n<p><strong>Phoenix ARC Private Limited v. Spade Financial Services Limited and Ors<\/strong><\/p>\n\n\n\n<p>CIVIL APPELLATE JURISDICTION<\/p>\n\n\n\n<p>Civil Appeal No. 3063 of 2020<\/p>\n\n\n\n<p>Dr Dhananjaya Y Chandrachud, J<\/p>\n\n\n\n<p>This judgment has been divided into sections to facilitate analysis. They are<\/p>\n\n\n\n<p>A The appeals<br>B CIRP for the Corporate Debtor<br>C Proceedings before NCLT<br>D Proceedings before NCLAT<br>E Transactions of the Corporate Debtor<br>F Relationship between Anil Nanda and Arun Anand<br>G Whether Spade and AAA are financial creditors of the Corporate Debtor<br>G.1 Submission of Counsel<br>G.2 Assessment of preliminary submissions<br>G.2.1 Res Judicata<br>G.2.2 Issues before NCLAT<br>G.2.3 Remand to NCLAT<br>G.3 Analysis<br>G.3.1 Statutory Provisions<br>G.3.2 Financial Creditor and Financial Debt<br>G.3.3 Collusive Transactions<br>G.3.4 Spade and AAA<br>H Whether Spade and AAA are related parties<br>H.1 Submission of Counsel<br>H.2 Statutory provisions<br>H.3 Analysis<br>I Whether Spade and AAA can be excluded from the CoC<br>I.1 Submissions of Counsel<br>I.2 Related Parties and CoC<br>I.3 Amendment to First Proviso of Section 21(2)<br>I.4 Related Parties &#8211; Interpretation In Praesenti<br>J Conclusion<\/p>\n\n\n\n<p class=\"has-text-align-center\"><strong>Read the Full Judgement below<\/strong><\/p>\n\n\n<a href=\"https:\/\/lexforti.com\/legal-news\/wp-content\/uploads\/2021\/04\/Phoenix-ARC-Private-Limited-v.-Spade-Financial-Services-Limited-and-Ors.pdf\" class=\"pdfemb-viewer\" style=\"\" data-width=\"max\" data-height=\"max\"  data-toolbar=\"bottom\" data-toolbar-fixed=\"off\">Phoenix-ARC-Private-Limited-v.-Spade-Financial-Services-Limited-and-Ors<br\/><\/a>\n<p class=\"wp-block-pdfemb-pdf-embedder-viewer\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Phoenix ARC Private Limited v. Spade Financial Services Limited and Ors CIVIL APPELLATE JURISDICTION Civil Appeal No. 3063 of 2020 Dr Dhananjaya Y Chandrachud, J This judgment has been divided into sections to facilitate analysis. They are A The appealsB CIRP for the Corporate DebtorC Proceedings before NCLTD Proceedings before NCLATE Transactions of the Corporate [&hellip;]<\/p>\n","protected":false},"author":167,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[219,26],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Phoenix ARC Private Limited v. Spade Financial Services Limited and Ors<\/title>\n<meta name=\"description\" content=\"Phoenix ARC Private Limited v. 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