Section 5(4) in THE BILATERAL NETTING OF QUALIFIED FINANCIAL CONTRACTS ACT, 2020
(4)Where a qualified financial market participant is subject to administration, then notwithstanding,—(i)any stay, injunction, avoidance, moratorium or similar proceedings or any other order of a court, tribunal or authority, or(ii)any order of adjudication or dissolution or winding up or resolution or insolvency, or(iii)any rule, regulation, scheme, direction, guideline, circular or order, made or issued under any law for the time being in force, close-out netting shall be applicable and nothing contained therein shall affect the validity of close-out netting under this Act.
