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2022 (10) TMI 573 - AT - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Financial Creditors - order of attachment - Financial Debt or not - existence of debt and dispute or not - HELD THAT:- M/s Dove Infrastructure Private Limited is to set up I.T. Park does not make the disbursement made by Appellant to M/s ABW Infrastructure Ltd. as a Financial Debt against the Corporate Debtor. The disbursement against time value of money is against M/s ABW Infrastructure Ltd. and not against the Corporate Debtor. The order of District Magistrate attached the property under Section 4 of Haryana Protection of Interest of Depositors in the Financial Establishment Act, 2013. Order of attachment and observations as made in the order for recovery does not make the claim of Appellant as Financial Debt. Section 7 Application filed by the Appellant has been rightly rejected by the Adjudicating Authority. The impugned order does not warrant any interference - appeal dismissed.
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