Explanation. I — For the purposes of this clause, the expression " connected person " means— — THE INSOLVENCY AND BANKRUPTCY CODE, 2016 Last Update 18-8-2021

[Explanation. I] — For the purposes of this clause, the expression " connected person " means—

5 [Explanation. I] — For the purposes of this clause, the expression " connected person " means— (i) any person who is the promoter or in the management or control of the resolution applicant; or (ii) any person who shall be the promoter or in management or control of the business of the corporate debtor during the implementation of the resolution plan; or (iii) the holding company, subsidiary company, associate company or related party of a person referred to in clauses (i) and (ii):

Section 5