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2019 (10) TMI 1340 - NATIONAL COMPANY LAW TRIBUNAL , AHMEDABAD BENCHMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Financial Creditor or not - existence of debt and dispute or not - HELD THAT:- On perusal of the documents, it is amply clear that the amount paid as Time Share membership is only for claiming the services in future from NLL being Time Share Member. Section 3(1) defines 'Debt'. Debt means a liability or obligation in respect of a claim which is due from any person and includes a financial debt and an operational debt - Thus, in order to be 'debt', there ought to be a liability or an obligation in respect of a "claim". It would not be out of place to mention herein, the maxim "Volenti non fit injuria". When a person consents to the inflicting of some harm upon himself, he has no remedy for that in tort. In case, the plaintiff voluntarily agrees to suffer some harm, he is not allowed to complain for that and his consent serves as a good defence against him. No man can enforce a right which he has voluntarily waived or abandoned. Consent to suffer may be express or implied. Thus, in view of the terms and conditions of Time Share Membership, the Applicant is entitled for refund provided the applicant cancels his Time Share Membership within a period of 10 days from the date of enrolment as Time Share Member. The Applicant himself has waived his right and has consented expressly to the non-refund of Time Membership Fees. This shows the Applicant has the knowledge of risk and has voluntarily agreed for the Membership Fees which is not refundable. The person who himself voluntarily waived or abandoned his right cannot have any claim over it. Applicant does not fall within the category of "Financial Creditor" - Application disposed off.
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