Amounts covered by Security deposits under Agreements Constitute Financial Debt: Supreme Court Upholds NCLAT order [Read Judgement]

No hesitation in concurring with the NCLAT's view that the amounts covered by security deposits under the agreements constitute financial debt
Amounts covered - Security deposits - Agreements Constitute Financial Debt - Supreme Court - NCLAT order - taxscan

The Supreme Court upheld the National Company Law Appellate Tribunal ( NCLAT ) order affirming that amounts covered by security deposits under agreements constitute financial debt. Justices Abhay S. Oka and Pankaj Mithal held in alignment with NCLAT’s perspective, recognizing these deposits as financial debt under sub-section (7) of Section 5 of the Insolvency and…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹1199 + GST for 1 year

Subscribe Now