Maintainability CIRP application - the amount paid to the CD ...

CIRP application dismissed: Brokerage payment not "financial debt" under Companies Act sections 186(2) and (3). No loan evidence found.

August 16, 2019

Case Laws Insolvency and Bankruptcy Tri

Maintainability CIRP application - the amount paid to the CD towards brokerage can be "financial debt"? - There is nothing on record to show that the financial creditor gave loan after complying the conditions stated in section 186(2),(3) of the Companies Act - the transaction as potrayed by the financial creditor against the CD cannot be recognized as the transaction of loan - hence There is no default in paying such debt - application dismissed

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Maintainability CIRP application - the amount paid to the CD ...

CIRP application dismissed: Brokerage payment not "financial debt" under Companies Act sections 186(2) and (3). No loan evidence found.

August 16, 2019

Case Laws Insolvency and Bankruptcy Tri

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