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Draft an application to avoid extortionate credit transactions under the IBC

Learn practical aspects of handling extortionate credit transactions, including how to draft such an application for a refund of excess money or modification of arrangement and how to contest them before the National Company Law Tribunal. If you wish to build a practice in insolvency and bankruptcy law, this will be an invaluable guide.

Introduction

Think of an exhausted traveller wandering through a vast desert, fatigued and desperate for water. Suddenly, at a distance, a freshwater pond appears. With some renewed hope, the traveller rushes forward, believing that his liberation is near. But as he reaches out to drink, reality sets in-it was just a mirage. The water was never there, and now he’s even further from survival than before.

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