IBC: Recovery Certificate Holder can initiate CIRP as Financial Creditor, rules Supreme Court [Read Judgment]

SC - IBC - Recovery Certificate Holder - CIRP - Financial Creditor - Supreme Court - taxscan

A three-judge Bench of the Supreme Court comprising Justices L. Nageswara Rao, B.R. Gavai and A.S. Bopanna, on Monday, held that a liability in respect of a claim arising out of a Recovery Certificate under the Recovery of Debts and Bankruptcy Act, 1993 would be a “financial debt” within the meaning of Section 5(8) of…

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