Creditor facing PMLA investigation cannot be part of Committee of Creditors, NCLAT

Creditor facing PMLA investigation cannot be part of Committee of Creditors, NCLAT

The National Company Law Appellate Tribunal (NCLAT) has held that a creditor against whom a money laundering case has been initiated cannot be allowed to be a member of the Committee of Creditors for a corporate insolvency resolution process.

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