What really happened [1] As per SC decision in 2021 —Phoneix case– Related parties are not creditors and cannot be part of CoC— In Chandra case Related parties allegedly were included in CoC and it overwhelmingly affected majority criteria [2] RP accepted 31.79 crores net worth—which was estimated at 22000 crores —and it was done  without substantial scrutiny and despite several creditors seeking appointment of an independent forensic auditor — [3] NCLT–Two member bench pulled in different directions and a third one giving yet another view [4] Sectioh 96[4] —which allows the debtor to secure an internal moratorium on claims and manage his assets —has been done away with in May,2026– Had this amendment been put in place earlier– possibly the case would have gone entirely opposite direction–Courtesy Editorial BL