Initiation of CIRP - Flat Buyer is a Financial Creditor or not - ...

Flat Buyer Status as Financial Creditor Under Insolvency and Bankruptcy Code Examined in HBPL Case.

April 9, 2021

Case Laws     Insolvency and Bankruptcy     AT

Initiation of CIRP - Flat Buyer is a Financial Creditor or not - Whether ‘HBPL’ falls within the ambit of the definition of ‘Corporate Debtor’, as defined under Section 3(8) of the Code? - ‘HBPL’ is the ‘Corporate Debtor’ and the second Respondent the ‘Financial Creditor’ and the amount involved is the ‘Financial Debt’ as defined under the Code - the asset of the ‘Corporate Debtor Company’ of that particular Project is to be maximized for balancing the Creditor such as ‘Allottees’, ‘Financial Institutions’ and ‘Operational Creditors’ of that particular Project. - AT

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