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2024 (4) TMI 441 - SC ORDERRejection of claim of the Appellant(s) to be declared as Financial Creditors of the Corporate Debtor - it was held by NCLAT that The condition for declaring the Appellant(s) as ‘Financial Creditor’ are not satisfied in the claims submitted by the Appellant(s) and both Resolution Professional and Adjudicating Authority have rightly rejected their claims as ‘Financial Creditor’ for valid reasons - HELD THAT:- There are no good ground and reason to interfere with the impugned judgment and hence, the present appeal is dismissed. In the present case, the appellant - Skil Infrastructure Limited is a corporate guarantor as per Section 5(5A) of the Insolvency and Bankruptcy Code, 2016. Its claim against the second/ new promoters/management will not make them a financial creditor against the corporate debtor itself. Section 140 of the Contract Act, 1872 cannot be pressed and is not applicable. Application disposed off.
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