Creditors Mustn’t be Included Under the Class of ‘Financial Creditors’ Merely on the Basis of the Execution of Mortgage Deeds: SC issues notice [Read Order]
Fundamental element of disbursal, specifically against the consideration for the time value of money, must be evident in the origin of any debt claimed as a ‘financial debt’
By Amal Michael - On January 15, 2024 8:11 pm - 3 mins read
The Supreme Court has ruled that the crucial requirement of disbursing funds against the consideration for the time value of money must be evident in the origin of any debt claimed as a ‘financial debt’ for it to be recognized as such under Section 5(8) of the IBC. The appellant, Anuj Jain IRP of M/s…
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