Recovery of dues - It cannot be forgotten that in the case on ...

Tribunal Rules Appellant Failed to Prove Loan Disbursement for Time Value of Money Under IBC Section 5(8.

February 24, 2022

Case Laws Insolvency and Bankruptcy AT

Recovery of dues - It cannot be forgotten that in the case on hand the Allottees had approached the Appellant/Applicant for the financial assistance which was disbursed by the Appellant as Loan amounts to the respective Allottees which was then disbursed by the Allottees to the ‘Corporate Debtor’. The Appellant has not subjectively satisfied this Tribunal that the money which it is claiming was disbursed to the ‘Corporate Debtor’ for time value of money as per Section 5(8) of the I&B Code. Undoubtedly, the Appellant in ‘Law’ has a valuable right to proceed against the Allottees in the light of numerous documents executed between them. - AT

View Source

← Previous Next →

Recovery of dues - It cannot be forgotten that in the case on ...

Tribunal Rules Appellant Failed to Prove Loan Disbursement for Time Value of Money Under IBC Section 5(8.

February 24, 2022

Case Laws Insolvency and Bankruptcy AT

You may also like:

The Corporate Debtor denied the existence of a loan agreement with 12% interest, as claimed by the Financial Creditor in the Section 7 application. To qualify as a...

The Appellate Tribunal dismissed the Section 7 application filed by the Appellant, ruling that the share application money deposited by the Appellant with the Corporate...

The Appellant challenged the admission of the Section 7 application filed by the Financial Creditor, contending no debt was due as the application was premature. The...

Initiation of CIRP - the share application money does not fall under any of the clauses of Section 5(8) of the Code and it cannot be said to fall under the definition "a...

The NCLAT held that Compulsory Convertible Debentures (CCDs) issued by the Corporate Debtor constituted a 'financial debt' u/s 5(8) as the transaction involved time...

Dishonor of Cheque - defendant failed to prove that plaintiff falls within the definition of ‘money-lender’ under the Act and also failed to prove that various recovery...

GST is payable under reverse charge mechanism on issuance of corporate guarantee without consideration by foreign group company to Indian subsidiary for loan taken from...

Initiation of CIRP u/s 7 - financial debt in terms of IBC or not - The terms and conditions of the Agreement between the Appellant and the Respondent makes it clear that...

Removal of appellant from Committee of Creditors - Financial Creditors or not - the appellant was a collaborator in the development agreement and not a financial...

Initiation of CIRP - Financial creditors - The use of the word ‘if any’ clearly makes that it is not essential for all financial debt to be with interest. However, the...

Profiteering - purchase of a flat - allegation that GST @12% was charged instead of 8% - as noticed from the demand letter Applicant had charged GST @ 12% on the taxable...

The case involves contravention of Section 8(1) of FERA, 1973. The Appellate Tribunal held that the transfer of money from an NRE account, even if received in Indian...

The Appellate Tribunal dismissed the appeal filed by the Petitioners seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate...

CIRP - Status of NOIDA authority - Financial Creditors or Operational Creditors - dues outstanding under the lease - , in the lease in question, there has been no...

Transaction value - Valuation (Customs) - Special or abnormal discount to the related buyers which were in excess of 3% discount - The Appellate Tribunal observed that...

Quick Updates: