Liability for Claim arising out of Recovery Certificate is Financial Debt u/s 5(8) of IBC: NCLAT

Liability for claim arising out of recovery certificate is financial debt u/s 5(8) of IBC, rules NCLAT
NCLAT - tax news - taxscan

The Chennai Bench of the National Company Law Appellate Tribunal (NCLAT) observed that the liability for claim arising out of the recovery certificate is financial debt under Section 5(8) of the Insolvency and Bankruptcy Code, 2016 (IBC). In the order the Adjudicating Authority held that the Financial Creditor (FC) in the present case, M/s. Prithvi…

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