Initiation of CIRP - The Appellant, who is a speculative ...

Case Laws Insolvency and Bankruptcy

February 1, 2022

Initiation of CIRP - The Appellant, who is a speculative investor, cannot claim status and benefits as financial creditor under Explanation (i) of Section 5(8)(f) of the IBC, and is not interested in the financial well-being, growth and vitality of the Corporate Debtor, but is just interested in her investment and has come in the garb of an allottee. In such a situation, the Appellant is certainly not a financial creditor holding financial debt, which is in default of payment by the Corporate Debtor. - AT

View Source

← Previous Next →

Initiation of CIRP - The Appellant, who is a speculative ...

Case Laws Insolvency and Bankruptcy

February 1, 2022

You may also like:

The Appellate Tribunal affirmed the decision to exclude the Appellant and other unsecured Financial Creditors from the Committee of Creditors (CoC). The key issues were...

Initiation of CIRP - NCLT rejected the application - Financial Creditors - non-disbursement of part of financial assistance sanctioned by the Financial Creditors -...

The Appellate Tribunal upheld the Adjudicating Authority's order and dismissed the appeal filed by the Resolution Professional (RP) against the Operational Creditor. The...

Admission of section 7 application - financial debt or not - The Tribunal affirmed that the disbursal of ₹5 crores to the corporate debtor by the financial...

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...

CIRP proceedings - on the basis of parity being deployed by the RP in admitting claims of both category of financial creditors, there remains no reason to be aggrieved....

Power of RP to admit the Claims suo-motu - There is no such provision that the IRP shall admit the Claim without filing a Claim either in Form-B or in Form-C. - the IRP...

Initiation of Corporate Insolvency Resolution Process - financial creditor - home buyers - failure to pay assured return /monthly rent - The applicants fall within the...

Section 53(1) of the Insolvency and Bankruptcy Code (IBC) provides for the order of priority in the distribution of liquidation assets. Financial debts owed to unsecured...

Initiation of CIRP - Decree Holder - Financial Creditor - the debt in this case arising out of a decree, is a Financial Debt. - Section 3(11) of the Code defines debt as...

Initiation of CIRP - Financial creditor within the meaning of sub-section (7) of Section 5 of the IBC - The Supreme Court affirmed the NCLAT’s judgment, holding that the...

The NCLAT upheld the admission of the Section 7 application filed by the Financial Creditor (Respondent No.1) for initiating CIRP against the Corporate Debtor. It held...

Conversion of claim - financial claim has been converted to an operational one - the CoC which has been reconstituted upon amending the aforesaid claim, consisting of...

Initiation of CIRP - Financial Creditors - For an applicant to be a financial creditor, a debt along with interest should be disbursed against the consideration time...

Initiation of CIRP - It is true that after invocation of the pledge, Shares were transferred in dematerialised form in the DP Account of SBI CAP Trustee Company Ltd. and...

Quick Updates: