In a recent case of Hemalata Hospitals Limited vs. Sh. Siba Kumar Mohapatra RP of Medirad Tech India Limited (“Hemalata Case”),1 the National Company Law Tribunal New Delhi Bench (Court-II) (“NCLT Delhi”) adjudicated on the continuation of related party agreements during the corporate insolvency resolution process (“CIRP”) and upheld the termination of related party agreements by the resolution professional (“RP”) during the CIRP.
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