Sections 3 & 4 of Usurious Loans Act, 1918, Exempt in Insolvency Proceedings Under IBC Sections 7 & 9.

Corporate Insolvency Resolution Process - the provisions of Sections 3 & 4 of the ‘Usurious Loans Act, 1918’ are not applicable to any of the proceeding under Section 7 or 9 of the ‘I&B Code’. .....

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