9911796707
TMI BlogDefinitionX X X X Extracts X X X X X X X X Extracts X X X X ..... right to payment, whether or not such right is reduced to judgment, fixed, disputed, undisputed, legal, equitable, secured or unsecured; (b) right to remedy for breach of contract under any law for the time being in force, if such breach gives rise to a right to payment, whether or not such right is reduced to judgment, fixed, matured, unmatured, disputed, undisputed, secured or unsecured; (7) "corporate person" means a company as defined in clause (20) of section 2 of the Companies Act, 2013 (18 of 2013), a limited liability partnership, as defined in clause (n) of sub-section (1) of section 2 of the Limited Liability Partnership Act, 2008 (6 of 2009), or any other person incorporated with limited liability under any law for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (d) records, if any, of instances of default by the person against any debt; (e) records of the balance sheet and cash-flow statements of the person; and (f) such other information as may be specified. (14) "financial institution" means- (a) a scheduled bank; (b) financial institution as defined in section 45-I of the Reserve Bank of India Act, 1934 (2 of 1934); (c) Public financial institution as defined in clause (72) of section 2 of the Companies Act, 2013 (18 of 2013); and (d) such other institution as the Central Government may by notification specify as a financial institution; (15) "financial product" means securities, contracts of insurance, deposits, credit arrangements including loans and advanc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8) "financial sector regulator" means an authority or body constituted under any law for the time being in force to regulate services or transactions of financial sector and includes the Reserve Bank of India, the Securities and Exchange Board of India, the Insurance Regulatory and Development Authority of India, the Pension Fund Regulatory Authority and such other regulatory authorities as may be notified by the Central Government; (19) "insolvency professional" means a person enrolled under section 206 with an insolvency professional agency as its member and registered with the Board as an insolvency professional under section 207; (20) "insolvency professional agency" means any person registered with the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t; means a creditor in favour of whom security interest is created; (31) "security interest" means right, title or interest or a claim to property, created in favour of, or provided for a secured creditor by a transaction which secures payment or performance of an obligation and includes mortgage, charge, hypothecation, assignment and encumbrance or any other agreement or arrangement securing payment or performance of any obligation of any person: Provided that security interest shall not include a performance guarantee; (32) "specified" means specified by regulations made by the Board under this Code and the term "specify" shall be construed accordingly; (33) "transaction" includes a agreemen ..... X X X X Extracts X X X X X X X X Extracts X X X X
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