Initiation of CIRP - Financial Debt or not - It is clear that the amount provided by PEC as financial...

Initiation of CIRP - Financial Debt or not - It is clear that the amount provided by PEC as financial assistance, and claimed by it as financial debt under IBC, is basically for purchase, shipment and export of iron ore fines in fulfilment of the foreign contract. This amount is certainly not an amount given by PEC Ltd. as a financial creditor to a corporate entity M/s Phulchand Exports to ensure its overall financial viability. - The amount as claimed by the Appellant does not fall in the categ..... .....

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