CIRP Proceedings - Operational Debts or Financial Debts - ...

Guarantees for payment defaults in product sales not financial debts u/s 5(8)(f) of Insolvency Code.

January 9, 2021

Case Laws Insolvency and Bankruptcy Tri

CIRP Proceedings - Operational Debts or Financial Debts - financial guarantor - The guarantee essentially was for payment against default in the sale consideration of the products agreed to be purchased respectively from Respondent Nos. 2 and 3. The guarantees being not a liability arising out of the transaction in terms of section 5(8)(f) of the Code, would not come within the purview of the financial debt. - Tri

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CIRP Proceedings - Operational Debts or Financial Debts - ...

Guarantees for payment defaults in product sales not financial debts u/s 5(8)(f) of Insolvency Code.

January 9, 2021

Case Laws Insolvency and Bankruptcy Tri

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