Extortionate credit transactions [ Section 50 & 51 ]

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..... of an extortionate credit transaction. Where the corporate debtor is party to an extortionate credit transactions [ Section 50(1) ] Where the corporate debtor has been a party to an extortionate credit transaction involving the receipt of financial or operational debt during the period within two years preceding the insolvency commencement date, the liquidator or the resolution profe .....

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..... saction under section 50(2) where the terms- (1) require the corporate debtor to make exorbitant payments in respect of the credit provided; or (2) are unconscionable under the principles of law relating to contracts. Order of Adjudicating authority [ Section 51 ] Where the Adjudicating Authority after examining the application made under section 50(1) is satisfied that .....

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