Initiation of CIRP - Financial Debt or not - The present ...

Case Laws Insolvency and Bankruptcy

September 1, 2022

Initiation of CIRP - Financial Debt or not - The present transaction was in pursuance of the sale agreement. There was no other agreement formed between the parties for amount claimed in default/amount transferred towards corpus fund, hence the given transaction of transfer of corpus funds into the loan account would not qualify as a financial debt as per the definition laid down in Section 5(8) - Applicant failed to qualify the threshold prescribed in the proviso laid down under section 7 (1). - Tri

View Source

← Previous Next →

Initiation of CIRP - Financial Debt or not - The present ...

Case Laws Insolvency and Bankruptcy

September 1, 2022

You may also like:

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...

Initiation of CIRP - transaction of Financial Debt or not - Loan taken by the Corporate debtor from the sister concern was assigned by the said sister concern to the...

Initiation of CIRP u/s 7 of the IBC - financial debt or not - Period of limitation - Advance paid subject to execution of the share purchase agreement - NCLT rejected...

Initiation of CIRP u/s 7 - classification of Commission on sales - Financial Debt or not - threshold limit - The Adjudicating Authority analyzed the definition of...

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 - NCLT rejected the application - Scope of the agreement between parties for use of office space - Unilateral Termination of agreement before the...

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...

Initiation of CIRP - Financial Creditors - Financial Debt - There is a difference between the levy of liquidated damages or penal interest for default and the financial...

CIRP - Del Credere Agent - Financial Debt or not - in the teeth of Clause 15 of the ‘Del Credere Agency Agreement’, dated 04.04.2017 and keeping in mind of a prime fact...

Initiation of CIRP - Existence of a financial debt - Assignment of debt- The Appellate Tribunal (NCLAT) upheld the Adjudicating Authority’s findings, agreeing that: The...

Rejection of application against admission of CIRP u/s 7 application filed by the Financial Creditor - The tribunal pointed out that the corporate debtor’s financial...

CIRP Proceedings - Operational Debts or Financial Debts - financial guarantor - The guarantee essentially was for payment against default in the sale consideration of...

Admissibility of application - initiation of CIRP - Having made the payment prior to initiation of CIRP, we are of the view that the case of the Respondent/Applicant...

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...

CIRP - Admission of Section 7 application - The NCLAT addressed the validity and impact of the ex parte arbitral award. It concluded that, irrespective of the award's...

Quick Updates: