Initiation of CIRP - real estate project - The nature of Debt is ...

Case Laws Insolvency and Bankruptcy

June 17, 2021

Initiation of CIRP - real estate project - The nature of Debt is a "Financial Debt" as defined under section 5(8) of the Code. It has also been established that there is a "Default" as defined under section 3(12) of the Code on the part of the Debtor. The two essential qualifications, i.e., existence of 'debt' and 'default', for admission of a Petition under section 7 of the I & B Code, have been met in this case - Tri

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Initiation of CIRP - real estate project - The nature of Debt is ...

Case Laws Insolvency and Bankruptcy

June 17, 2021

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